Past Winner Stories
Fred Gutwein and Sons
We provide seed corn and soybean growing, processing, packaging, and distribution services to other seed companies throughout the world. We try to be a full-service needs partner with our customers by providing all needed services requested.
In 1993, the owners of Fred Gutwein and Sons, Fred and Eric Gutwein who were third generation family members of the company remember well sitting in the bank being told that they were long considering a going concern. The bank was planning on taking control of this sixty-six year old company and selling it off. Fred and Eric were determined to do anything and everything possible to insure that this did not happen.
A consultant was hired to help negotiate with the bank on stopping this foreclosure and to help them turn the company around. This resulted in the closing of their research and development department after over 25 years of service and many other changes to the structure of the company. All excess expenses and assets were disposed of and no stone was left unturned.
By 1996, the company was beginning to turn around and become more profitable and financially stable but the costs of new technology for the agriculture companies without research departments was an expensive venture and this cost was being passed on down to their customers. It was seen that the company was going to have to expand its operations in other areas of the agricultural world.
In 1997, there was a vacant seed corn processing facility located in Flora, Indiana. This looked like a good chance to start a new business focus. Two multi-year contracts with other seed companies were obtained, one for seed corn growing and processing and another for growing and processing soybeans that would fill this new plant to near capacity. Financing was obtained and the long process of renovation and preparation for this new venture was begun. This acquisition and foresight has succeeded in a turnaround in the financial position and focus of the company.
In 1998 just as things were really turning around, a fire hit the plant located in Francesville, Indiana and destroyed the processing facilities, doc, one warehouse, and a part of another along with a considerable amount of seed. Now the decision became do we walk away and call it quits or rebuild. No, the decision was mad that we would rebuild as soon as possible. The new construction for the warehouse was begun immediately along with the dock and was completed by August of 1998. The plant was started in December of 1998 and was operational in August of 1999. The new plant is a state of the art facility that is over two times as big as the destroyed plant.
In January of 2000, after extensive negotiations, the retail department of Fred Gutwein and Sons (known as Gutwein Seeds) was merged with Garst Seed Company of Iowa. This meant that Eric and Fred Gutwein had merged four of their songs, who worked in the retail division, to another company along with six other persons. The company had no made the conscious decision of moving into a new market. This market would involve production, processing, distribution, and storage of seed corn and soybeans for other major seed companies throughout the world. The number of acres and units processed in this first year more than doubled from the prior year.
In August of 2001, in their continued attempt to provide consistent quality and satisfaction to their customers, the company was awarded their ISO9001 certification. This process took total dedication of all the outstanding employees and a period of eighteen months to accomplish.
The changing world of agriculture can cause disappointments along with many joys and the company now realizes that change is inevitable and we can adapt as these changes occur.
In 1993, the owners of Fred Gutwein and Sons, Fred and Eric Gutwein who were third generation family members of the company remember well sitting in the bank being told that they were long considering a going concern. The bank was planning on taking control of this sixty-six year old company and selling it off. Fred and Eric were determined to do anything and everything possible to insure that this did not happen.
A consultant was hired to help negotiate with the bank on stopping this foreclosure and to help them turn the company around. This resulted in the closing of their research and development department after over 25 years of service and many other changes to the structure of the company. All excess expenses and assets were disposed of and no stone was left unturned.
By 1996, the company was beginning to turn around and become more profitable and financially stable but the costs of new technology for the agriculture companies without research departments was an expensive venture and this cost was being passed on down to their customers. It was seen that the company was going to have to expand its operations in other areas of the agricultural world.
In 1997, there was a vacant seed corn processing facility located in Flora, Indiana. This looked like a good chance to start a new business focus. Two multi-year contracts with other seed companies were obtained, one for seed corn growing and processing and another for growing and processing soybeans that would fill this new plant to near capacity. Financing was obtained and the long process of renovation and preparation for this new venture was begun. This acquisition and foresight has succeeded in a turnaround in the financial position and focus of the company.
In 1998 just as things were really turning around, a fire hit the plant located in Francesville, Indiana and destroyed the processing facilities, doc, one warehouse, and a part of another along with a considerable amount of seed. Now the decision became do we walk away and call it quits or rebuild. No, the decision was mad that we would rebuild as soon as possible. The new construction for the warehouse was begun immediately along with the dock and was completed by August of 1998. The plant was started in December of 1998 and was operational in August of 1999. The new plant is a state of the art facility that is over two times as big as the destroyed plant.
In January of 2000, after extensive negotiations, the retail department of Fred Gutwein and Sons (known as Gutwein Seeds) was merged with Garst Seed Company of Iowa. This meant that Eric and Fred Gutwein had merged four of their songs, who worked in the retail division, to another company along with six other persons. The company had no made the conscious decision of moving into a new market. This market would involve production, processing, distribution, and storage of seed corn and soybeans for other major seed companies throughout the world. The number of acres and units processed in this first year more than doubled from the prior year.
In August of 2001, in their continued attempt to provide consistent quality and satisfaction to their customers, the company was awarded their ISO9001 certification. This process took total dedication of all the outstanding employees and a period of eighteen months to accomplish.
The changing world of agriculture can cause disappointments along with many joys and the company now realizes that change is inevitable and we can adapt as these changes occur.