News Releases

Scoular Acquires Assets of Hancock Elevator, Inc

June 12, 2008

Company Begins Operating 14 Iowa Grain-Handling Facilities

OMAHA, NE – The Scoular Company announced today its acquisition of the assets of Hancock Elevator, Inc. Scoular’s acquisition included 14 Iowa grain-handling facilities located in Avoca, Elliott, Elk Horn, Emerson, Griswold, Hancock, Harlan, Hastings, Neola, Oakland, Persia, Portsmouth, Shelby, and Walnut. Terms of the transaction were not announced.

The acquired truck and rail locations will be incorporated into Scoular’s North American corn and soybean origination network. “Scoular and Hancock Elevator have worked together for decades,” said Steve Dunn, Scoular Vice President who will oversee the newly acquired Hancock facilities.

“We are looking forward to building from this long-standing relationship, bringing a more direct level of market opportunity to area producers. Scoular is committed to continuing the high level of personal service already well established by the employees of Hancock Elevator,” said Dunn.

Dunn added that that Scoular is pleased to have Hancock’s former owner and general manager, Jay Schuster, join Scoular as Facility Business Manager. Dunn also noted that Scoular views the retention of Hancock’s present employees as key to the future success of the venture.

Schuster said, “We are excited to become a part of The Scoular Company. The people of Scoular have always worked to provide a fair and competitive market for our grain. We are looking forward to maintaining our local connection and positive working relationships with area producers and members of the surrounding communities.”