CTB International Corp. Establishes European Logistics Center in the Netherlands.Business Editors MILFORD, Ind.--(BUSINESS WIRE)--Jan. 22, 2002 CTB CTB Council Tax Benefit (UK) CTB Coopération Technique Belge (French: Belgian Technical Cooperation) CTB Commonwealth Transportation Board (Virginia Department of Transportation) International Corp. (Nasdaq:CTBC CTBC Computer Take Back Campaign CTBC Cape Town Bridge Club (South Africa) ) today announced the establishment of Chore-Time Europe B.V., a European logistics center, in Asten, the Netherlands, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. George Murdoch
George Murdoch (April 29, 1850 – February 2, 1910) was the first mayor of Calgary, Alberta. , executive vice president of CTB's Milford-based international business unit. The new logistics center was established through the purchase of a controlling interest controlling interest The ownership of a quantity of outstanding corporate stock sufficient to control the actions of the firm. Controlling interest often involves ownership of significantly less than 51% of a firm's outstanding stock because many owners fail in Veldmaster B.V., a master distributor in the Netherlands for the Milford-based international business unit. Chore-Time Europe B.V. will sell primarily Chore-Time's products for raising poultry throughout Europe, the Middle East and in northern Africa. CTB will be closing its Chore-Time Brock B.V. facility in Deurne, the Netherlands, and transferring its operations to the new company. Chore-Time Europe B.V. also has a wholly-owned subsidiary near Poznan, Poland, which has now been designated Chore-Time Europe Sp. z.o.o. Financial terms of the transaction were not disclosed. Chore-Time Europe B.V., which commences operation under the new name and management structure today, offers the company's customers in that region improved facilities and enhanced capabilities for sales and service of Chore-Time products. Some anticipated customer advantages include faster delivery time, the ability to purchase in less-than-container-load quantities, euro-based pricing and payment terms, reduced import tariffs, and a Chore-Time package that will be completed with C.E.-approved parts and various other European components to make the entire package better suited to local needs. CTB continues to focus on its strategy for growth, which includes expanding its global physical presence and extending its competitive advantage through accretive acquisitions Accretive Acquisition An acquisition that will increase the acquiring company's EPS. Notes: As they are expected to increase the acquiring company's future earnings, these acquisitions tend to be favorable for the company's market price. and/or other beneficial business arrangements, as well as emerging as the best cost manufacturer in the industries it serves, emphasizing its product-driven focus, and enhancing its financial strength. About CTB CTB International Corp. is a leading designer, manufacturer and marketer of systems for the poultry, hog, egg production, and grain industries. Celebrating its 50th anniversary this year, CTB operates from facilities in the U.S.A., Europe and Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. as well as through a worldwide distribution network. Disclosure Regarding Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. In addition to historical information, this document contains certain statements representing the Company's expectations or beliefs concerning future events. These statements are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, which provides a safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for such statements. The use of words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "projects," "could," "may," "will" or similar expressions are intended to identify these statements. The forward-looking statements contained in this document include, without limitation, statements related to realization of anticipated benefits. They also involve certain risks and uncertainties regarding CTB International Corp.'s business and operations and the agriculture industry. The Company's actual results could differ materially from those expressed or implied by such forward-looking statements. The Company cautions that these statements are further qualified by other important factors, including, but not limited to those set forth in the Company's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filing and its other filings with the Securities and Exchange Commission. The Company does not undertake any obligation to update this information. |
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