News

MILFORD, Ind., U.S.A., July 24, 2012 – A group of more than 600 Milford-based employees and many retired employees gathered on July 17, 2012, at CTB’s Conference Center in Milford, Indiana, to celebrate the Company’s 60th anniversary. CTB (www.ctbinc.com) was founded as Chore-Time in 1952 and is a leading global designer, manufacturer and marketer of systems and solutions for producing grain, poultry, pigs and eggs. Additional celebratory events are planned at CTB’s other locations in the U.S. and around the world later this summer.

Greeting attendees, Victor A. Mancinelli, CTB president and chief executive officer, described the anniversary as an opportunity to “bring many of our people together and express gratitude to all for the hard work put forth these many years.” He remarked that, “the Company was very fortunate to have had a core group of founders and early employees who were passionate, dedicated and visionary.”

Mancinelli also noted that “the value system which began with our founders was handed down to us over the years and to this day defines us and makes us who we are.” Those core values start with “the cornerstone of integrity” and include a “dedication to new ideas, newer products, being different by design, and giving our customers more, so that we can make them even more successful.”

CTB has been a wholly owned subsidiary of Berkshire Hathaway Inc. since 2002, and Berkshire Hathaway chairman Warren Buffett also offered employees a congratulatory video greeting. “You’ve got to have a good feeling about what you do at CTB,” Buffett said. “You’re helping feed the world, and nothing is more important than that.” Buffett concluded, “I couldn’t feel better about being your partner.”

The program included recollections by a number of individuals hired by CTB during the Company’s first three decades including retirees Dick Mundy and Pat Farm, current employees Chuck Bird and Roger Hollinger, and early employee and inventor Eldon Hostetler. A video was also shown of company founder Howard Brembeck (1910-2010) and original co-owner Forrest Ramser (1925-2010) speaking in 2002 about their philosophy of doing business. A meal was served to all attendees after the program.

Based in Milford, CTB today sells its products in over 110 countries under some 14 brand names. These include the original two brands, Chore-Time and Brock, as well as Agro Logic, Fancom, Ironwood, Laake, Mannebeck, PigTek, Porcon, ProTerra, Roxell, Shenandoah, Shore and Uniqfill.

On May 4, 2012, the Company announced an agreement to acquire Meyn Holding B.V., the parent company of Meyn Food Processing Technology B.V. The acquisition, soon to be finalized, will add a 15th brand – Meyn – to CTB’s product portfolio. It will also bring CTB”s worldwide annual sales to over a billion dollars.

Throughout its history, CTB has dedicated itself to product leadership, and its product development ideas have generated numerous patents and awards for various innovations for agriculture. The Company has focused its product development on equipment that helps farmers feed the world through more efficient production of animal protein (poultry meat, pork and eggs) and systems that facilitate long-term storage of grain. CTB also produces and offers products for various equestrian and industrial applications.

CTB continues to focus on its strategy for growth, which includes emerging as the best cost manufacturer in the industries it serves, emphasizing its product-driven focus, expanding its global physical presence, fortifying the business through acquisition and enhancing its financial strength in order to support ongoing product development and to better serve its customers both today and in the future.