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Area firm buys European pig pen makers

by 5m Editor
15 November 2006, at 10:46am

US - A Kosciusko County farm equipment manufacturer has agreed to buy two European companies to expand its product offerings.

CTB Inc. has signed agreements to buy hog equipment manufacturers Porcon Beheer B.V. and Laake GmbH, the Milford-based company announced Tuesday.

CTB, a wholly owned subsidiary of Berkshire Hathaway Inc., did not disclose the terms of the deals. The acquisitions are expected to close by early January.

The acquired companies manufacture stalls and pens for pigs, which represents a new business segment for CTB, said Don Steinhilber, vice president and chief financial officer for CTB. German firm Laake and Porcon, which is based in the Netherlands, also will provide CTB with access to existing customers and market share in Europe, he said.

CTB announced it will form a business unit to concentrate on serving the hog market during a news conference Tuesday at the livestock trade show EuroTier in Hanover, Germany.

Although CTB sells more feeding systems for poultry farms, the company wants to expand its focus on the hog industry, Steinhilber said. The business unit could be a division of the company or a separate subsidiary, he said. CTB has not announced where it would be located.

Source: Fort Wayne

5m Editor