Scoular: Moving Goods For Over 100 Years
Google, Apple and Samsung are some of the top companies today. They are all in the field of information technology and electronics. While they’re doing well now we really don’t know what the distant future will hold for these companies. Will they ever become one hundred year old companies?
For Scoular Company this firm can brag about being over a hundred years old; around 120 years actually. It’s not a high tech firm but is an employee-owned agricultural marketing company with presence across the U.S. and moving goods all over the world.
The company serves clients in growing food, feed, and renewable fuel markets by transporting and managing logistics, storing, buying and selling, and managing risks related to price, quality, transportation and other market factors.
Shipping goods from point A to point B is not that simple. There is the risk of volatile commodity prices that customers of Scoular don’t want to be exposed to. So the company provides customized risk managements solutions such as: creative cash contracts; exchange-trade instruments; over-the-counter instruments; monitoring and reporting; and transparent costs.
Given this expertise in the area of finance it can be tempting to engage in another business but Scoular does not sell packaged risk management programs and is not a commission broker. The company is disciplined and uses this expertise in designing strategies to meet each client’s unique needs. The firm is a registered Commodity Trading Advisor (CTA).
For 2012 Scoular had annual sales of $6.1 billion. The firm has 727 employees with 12 merchandising offices and 61 grain-handling facilities. It markets over 100 products. The company has a storage capacity of over 120 million bushels and handles around 334 million bushels annually.
The company was founded in 1892 as George Scoular Grain & Lumber Company in Superior, Nebraska. Around 75 years later the firm was sold to a group of grain industry executives lead by Marshall Faith who is the current Vice Chairman of the Board.
Scoular may be over 100 years old but it’s still growing and expanding.