Agricultural Products Group - BP Corporation FY 1976
Agricultural Products Group Showing Graphic Inlay of Revenus and Profit Contributions for the Past Five Years (Fiscal Years 1972-1976). GGA Image ID # 15d07e33a9
From small beginnings in central California, Producers Cotton Oil Company has grown into a diversified complex of agricultural businesses, operating in the San Joaquin and Imperial Valleys of California and in Southern and Central Arizona.
In addition to farming, ginning and oilseed processing, the company extends substantial grower crop financing, merchandises cotton, operates mix feed plants and warehouses and compresses baled cotton.
During its 47-year history, Producers Cotton Oil Company has processed almost 10 million bales of cotton, enough raw cotton to make well over 2 billion bedsheets, or to provide three bath towels for every person in every country of the world. Last year the company processed one of every twenty-eight bales grown in the United States.
Agricultural Products Group - Producers Cotton Oil Company Summary of Operations, Condensed Financial Position, and Statistical Data for Fiscal Years 1975 and 1976. GGA Image ID # 15d0c1438f
Agribusiness Grows
Today, Producers represents an enormous agricultural investment with over 70,000 acres under cultivation, with 63 cotton gins strategically located in California and Arizona cotton-growing regions and with ample oilseed processing capacity, warehouses, farm machinery and livestock.
In 1976, Producers Cotton Oil Company reported the third best year in its history.
Producers' management (from left) Gerald B. Brewer, President: Glen R. Stevens, Vice President - Field Services; Ed E. Anderson, Jr., Vice President & General Manager, South Lakes Farms; Charles R. Bell, Vice President & General Manager, Arizona Division; Samuel K. Evans, Vice President - Mill Sales, Operations. GGA Image ID # 15d1139eb7
Cotton Demand Up
The growth of the nation's western cotton industry and the recovery of cotton textile markets, have figured importantly in the success of Producers Cotton Oil. Today, California and Arizona grow one out of every 3Va bales of cotton produced in the United States.
In addition, cotton continues to reclaim a larger share of the textile market from synthetic fibers, reversing some of the losses of the 1960's and early 1970's.
Demand has exceeded production, and supplies are shrinking in both domestic and world channels. This favorable market picture has attracted increased plantings and Producers' 1977 results should reflect perhaps 25% or more higher processing volume.
Producers Cotton Oil Company began operation in California in 1930 with a 90 ton daily capacity cottonseed oil mill and seven cotton gins. As irrigation facilities improved in the early 1930's and cotton became a major crop, additional processing capacity was built or acquired.
Producers Cotton Oil Processing Plant. Producers processed one of every twenty-eight bales of cotton grown in the United States. GGA Image ID # 15d11fa4dc
Producers' Land Holdings
The company entered the farming business in 1934 through the acquisition of the Calflax Company which farmed several thousand acres of cotton, flax and grain.
From that base near Fresno, the company's farming division, known as South Lake Farms, now total some 54,000 acres of owned land and 20,000 acres of leased land principally in California's San Joaquin Valley.
The company's high capacity oilseed processing plants are capable of handling numerous oil bearing seed crops. While oil is the prime seed product, other by-products are cotton linters for the chemical and furniture industries and high protein meal for livestock feed. This operation provides enough golden vegetable oil to make 50,000,000 quarts of mayonnaise annually.
Producers was largely owned by its founders and their associates until 1967 when almost all of Producers' outstanding shares were acquired by Bangor Punta. In 1975, remaining minority interests were also purchased, leaving Producers a wholly-owned subsidiary of Bangor Punta.
