State mill: posts 1,28 million USD profit for Q1/2008

Bismarck / ND. (ndm) The North Dakota Mill and Elevator recorded a 1,28 million profit for July, August and September, the first quarter of its 2008 business year. The profit number is almost quadruple what the Grand Forks flour mill made during the same three-month period last year, Vance Taylor, the mill´s general manager, told the state Industrial Commission.

The North Dakota Mill´s sales of bakery and pasta flour added up to almost 51,5 million USD during the quarter, an increase of more than 31 percent. The state mill made a 5,8 million USD profit during its last budget year. It was a decrease from its previous, record-setting profit of 6,2 million USD, and ended a three-year streak of record profits for the mill.

Governor John Hoeven, Agriculture Commissioner Roger Johnson and Attorney General Wayne Stenehjem are the members of the Industrial Commission, which is the mill´s board of directors.

About: The North Dakota Mill and Elevator is the largest flour mill in the United States. It is located in the city of Grand Forks, North Dakota. The mill is owned by the U.S. state of North Dakota and is the only state-owned milling facility in the United States. The North Dakota Mill and Elevator Association started operations on October 22, 1922. The facility was built by the state as a way of bypassing what many area wheat farmers considered unfair business practices on the part of the railroads and milling facilities in Minneapolis, Minnesota. Today, the mill´s offerings include not only flour, but also newer products like bread machine mixes, pancake mixes, and organic wheat products, says Wikipedia.