Amalgamation of Two Semex Alliance Partners
With the solid backing of their voting delegates, Eastern Breeders Inc. (EBI) and Gencor will join to become a $30M powerhouse that will serve the combined operations’ 8,583 members. At a Delegate Day vote held simultaneously at the head offices of EBI and Gencor on Tuesday, February 8th, both voting groups gave strong consent to merge into one company that will service all of Ontario, New Brunswick, PEI and Newfoundland & Labrador. To finalize the merger, a two-thirds majority approval of the 56 delegates from EBI and 71 from Gencor was required.
EBI President John deVries said, “Producers in Ontario, NL, NB and PEI have sent us a clear message. They want a strong AI organization that can adapt to our rapidly changing industry. East-Gen, a strong member of the The Semex Alliance, will be an organization positioned well for the future. East-Gen will build on the strengths of each original company while focusing on our core values of commitment to our customer, to youth and to being proudly breeder-owned and governed.” Gencor President Brian Anderson quickly added, “I am pleased that our membership has endorsed the plan put forward by both Board of Directors. Much care and effort has gone into laying a solid foundation for the new company to build on in the future. Everyone involved deserves our thanks.”
The new company will adopt the interim name East-Gen and will have its administrative head office based out of Guelph while both Guelph and Kemptville sites for housing, production and distribution will be maintained. Together, Gencor and EBI house close to 750 bulls for the Semex Alliance including some of the most sought after sires in the world. The agreement was made easier due to the fact that many programs, events, ads, fleet rates, benefits and insurance programs were already in common. East-Gen will inseminate an estimated 270,000 females with close to 500,000 units of semen sold annually.
A transitional Board of Directors for the newly merged East-Gen has been established comprised of 6 Directors from both Gencor and EBI. This clearly illustrates the commitment from both companies to ensure their members would be treated fairly and equally with this landmark agreement. Together the 12 Directors will elect an executive and the process to select a new General Manager will begin (check the job opportunity). Both EBI and Gencor’s Boards will continue their current obligations until the amalgamation which will come into effect July 1st, 2011.
For more information, please contact:
Ann Louise Carson
, General Manager
Eastern Breeders Inc
613-258-5944, extension 316
, General Manager
Gencor, The Genetic Corporation
519-821-2150, extension 230