for three generations ~ for ages to come
For over 35 years, ACX has remained at the center of the development and evolution of the forage and roughage industry. The list of contributions that ACX has made to the export hay industry is long and lasting. ACX, through innovation and a high work ethic, has delivered some of the most revolutionary methods of grading, processing, packaging, and handling of hay for export that have been replicated by other suppliers in the U.S. and throughout the world.
The forage and roughage market in 2008 created the most volatile markets in history. Escalated costs for fuel, supplies, product, and ocean freight from the end of 2007 through the first half of 2008 were met with buyer resistance throughout the summer of 2008 and the devastating collapse in demand and pricing due to an economic worldwide financial crisis. The cave-in of the export hay market accelerated and multiplied its devastation due to the irresponsible buying of some major exporters of hay products in the US.
Fortunately, ACX took a very conservative approach to the 2008 crop and was able to weather the severe downward price adjustments while continuing consistent supply of quality products to our customers. By being cautious buying hay in 2008, ACX had little carryover of the 2008 high priced product, and with the anticipated significantly lower priced 2009 crop, was positioned well for new crop purchasing and sales.
Furthermore, ACX divestiture of their Albany plant in September of 2008 reduced the company's debt and increased the company liquidity. This strategy has helped make the company's transition through these most difficult economic times not only manageable, but in fact, has positioned the company to reinvest in plant operations while allowing ACX to find new opportunities for products, packaging, and markets.
Even with all of the accomplishments of ACX over the years and the company's fortuitous business strategy through the 2008 meltdown, the greatest achievement still has been to receive the blessings and continuous support of our loyal customers, growers, dealers, suppliers, vendors, and employees.
Without God's grace and the constant support of all the stakeholders in ACX, we would not be here today. In our company's times of prosperity and in our times of poverty, the associates of ACX have sustained and encouraged us in the unrelenting quest to fulfill our vision... to create the best agribusiness possible that supplies the highest value of forage and roughage products and services worldwide.
It is with this understanding and acknowledgement of the vital role that all our associations play in empowering ACX to pursue and fulfill our vision that we continue to improve the company's website. Since the launch of our website, ACX has offered creative and dynamic ways to better our services to our associates and industry. Our website brought important information to existing and potential affiliates; more importantly, the website established a creative way to interact and converse with all of those that make up the entire supply chain of products and services in the export hay industry... from the farm to the end user.
ACX will continue to improve on its existing web contents... company information; divisional product lines and services; customer purchase opportunities pictures (POP) and newsletters; LogistACX; STACX; supplier prospects and assistance; relevant and frequently updated news articles; real time weather and foreign currency exchange; and The Green Way Blog. ACX will begin later this year on the phase of web-based marketing that will include electronic trucking information, or TRACX, to improve our connections with our valued-added supply chain associates.
Please continue to explore our website to enhance how you conduct hay industry business with ACX Pacific Northwest in a progressive, provocative, innovative, and interactive way... The Green Way.
John M. Gombos