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DanCorn sold to American company

The new owner is DanCorn's American business partner for 15 years, the company Sukup and operations will continue unchanged for the time being.

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DanCorn A/S, which sells equipment for grain handling, has been sold to the American company Sukup Manufacturing Co., which has been the company’s supplier of bins, equipment and dryers for 15 years.

DanCorn was founded in Klejs near Juelsminde and has been domiciled in Hedensted since 2007.

The company’s 40 employees were informed about the future organization on Friday 24th April. The sale is part of a planned generational change.

“We have sold 65 per cent of our shares and the buyer will acquire the remaining 35 per cent step by step”, says Hans Hansen, who together with his wife, Kirsten, took over the company from his parents, Missa and Frede Hansen, in 1993.

“Sukup has acquired the shares in DanCorn A/S and DanCorn’s buildings at Mimersvej in Hedensted.”

“We have sold the business to a company which has been a solid business partner for a number of years and with the ability and strength to continue and develop DanCorn. It is very important for me that DanCorn can develop as a good business and workplace”, says Hans Hansen, who will continue as a member of the Board.

No major changes

CEO Jens Munk Jensen will continue as CEO of DanCorn and according to him, the employees’ employment relationship will remain unchanged.

“We do not expect that the employees’ working day will be significantly affected and it is also without any doubt that DanCorn will serve our customers in the same good way as previously.”

“Over the years, DanCorn has sold thousands of Sukup silos.”

“We are the exclusive distributor of Sukup’s products in all the northern Europe, including silos, dryers and other equipment, so no major changes will be introduced. Our employees know the products and the new owners”, says Jens Munk Jensen, who expects that the company will continue operations in Denmark under the DanCorn name in combination with the Sukup name, which can already be seen on many silos.

“The organization’s routines will continue, and with the new owners the company will have a solid basis for development and meeting future requirements in the industry. With this take-over, Sukup sees an opportunity to maintain a successful market platform for the company’s products in Denmark and Europe.”

Same set of values

Hans Hansen says that Sukup is a solid business which has expanded heavily, especially in recent years. The company is domiciled in Iowa with approximately 600 employees.

“Although it is a larger company than DanCorn, we share the same values and the same culture in many ways. The company is a family-owned business which was established 50 years ago, and together we have 110 years experience in grain storage and grain drying, says Hans Hansen.”

“Both DanCorn and Sukup originate from a farm and have developed from a secondary farming activity into a separate business. Sukup was established in 1965 by a young farmer, Eugene Sukup, who invented a stirring silo, and today the company is run by his two sons, Charles and Steve Sukup.”

2DanCorn’s story is somewhat similar, as the company was established in 1955 by Frede Hansen as a secondary farming activity at Klejsgaard. The company manufactured wood silos, which developed into floor bins, sale of conveyor systems, mobile dryers and steel bins for outside use.”

“Today, DanCorn delivers equipment for drying, handling and storage of grain and seeds to both national and international customers.”

Timing

Hans Hansen, who is 61 years old, resigned as CEO in 2009 and continued as a member of the Board. He is present at DanCorn’s premises frequently, and he will also be present in future, as the generational change will be implemented step by step with a common aim of ensuring that the process will be smooth.

“It is a major decision to sell our family’s life’s work and of course the decision has been given very thorough consideration. In my opinion it is timing to secure the future of the business with this change and I am satisfied that the new owner will continue the traditions on which DanCorn has been based through all the years. Furthermore, we know that they will not make any cut downs, on the contrary they want to develop.”

“I am also satisfied that the new owners will continue operations without making any changes to the workforce and with Jens Munk Jensen as CEO.”

“We have a good chemistry with Sukup, and our 15 years of cooperation with them have been based on respect and trust, which makes me confident about this take-over. It is a good solution for all parties, says Hans Hansen, who sees this take-over as a natural continuation of a good cooperation.”

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