The coming year will see this kind of innovation repeated, as Tree Top continues to develop and market new juice blends and additional flavored sauces. The ingredients market continues to prove itself an asset, as well. Your cooperative sells a wide variety of dried, low-moisture, and flavored apple products to nearly every one of the top 20 large food manufacturers in the United States. Today’s Tree Top has come a long way from the processor that used to make only apple juice.

As I said last year, I believe change is the one thing we can continue to count on. I think we will continue to see increasing competition in all markets, tighter margins, and higher energy costs. I believe our cooperative is prepared to meet those challenges and continue to be successful in handling and marketing our processor fruit.

As we begin this new fiscal year, we will have some changes on our Board of Directors. George Chapman and Dick Olsen have decided to retire. Thank you, George, for your 25 years of service. Thank you, Dick, for your 18 years of service. Finally, thank you, Tree Top growers, for allowing me to serve a second year as your Chairman.

Sincerely,

Fred Valentine