CTB International Forms Joint Venture for Manufacture of Commercial Grain and Seed Silos and Feed Bins in Brazil.MILFORD, Ind.--(BUSINESS WIRE)--Feb. 12, 1998--CTB International Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CTBC CTBC Computer Take Back Campaign CTBC Cape Town Bridge Club (South Africa) ) today announced that it has entered into a joint venture with Rota Industria de Maquinas Agricolas, Brazil, to produce commercial grain storage silos This article is about Storage Silos. For other types of silos, see Silo. Storage silos are structures for storing bulk materials. Silos are used in agriculture to store grain (see grain elevators) or fermented feed known as silage. and feed bins in Brazil. The joint venture will also produce seed storage and grain and seed handling equipment. Chris Chocola Joseph Christopher "Chris" Chocola (born February 24 1962) was a Republican member of the United States House of Representatives from Indiana's At-large congressional district (map) from 2003 to 2007. He was defeated in 2006 by Joe Donnelly. , president and chief executive officer of CTB CTB Council Tax Benefit (UK) CTB Coopération Technique Belge (French: Belgian Technical Cooperation) CTB Commonwealth Transportation Board (Virginia Department of Transportation) International Corp., said a new company, Rota Brock brock n. Chiefly British A badger. [Middle English brok, from Old English broc, of Celtic origin.] Ltda., is being formed as a result of the 50/50 joint venture. CTB and Rota will make a combined $6 million initial investment to capitalize Rota Brock Ltda. Construction of a new 87,000-square-foot (8100-square-meter) manufacturing facility will begin this month on a 20-acre (8-hectare) site, and initial production in the plant is projected for October 1998. Brock(R) is the brand name for CTB International's existing line of feed and grain storage systems. Chocola said the signing represents a significant investment by CTB in the Brazilian market and is the next step in its long-standing plan to better serve Brazil and the entire MERCOSUR area. "We are very pleased to develop a new relationship with Rota and to enhance our capabilities to better serve our customers," Chocola said. "The joint venture combines Rota's manufacturing capabilities and seed and grain handling experience with CTB's marketing and distribution abilities and grain storage expertise. Customers can look forward to a quality package of equipment from two strong companies with global reputations for excellence." In 1996, Chore-Time Brock Ltda. was incorporated in Londrina, Parana, Brazil to support the manufacturing and marketing needs of the Brazilian market. An Uruguayan office and warehouse had served Brazil from 1992 until the subsidiary was established. Alcebiades Silva was recently named Regional General Manager of Chore-Time Brock Ltda. Rota Industria de Maquinas Agricolas is a manufacturing company founded in 1974. Located in Cambe in the state of Parana in Brazil, Rota is involved in the agriculture, telecommunications, and aluminum extrusion industries. The company has experience with equipment for receiving, conveying, grading, cleaning, and storage of grain and seed. CTB International Corp., based in Milford, Indiana Milford is the name of two places in the U.S. state of Indiana:
Copyright (c) CTB Inc., 1998. BROCK is a registered trademark of CTB Inc. All other companies referenced herein are trademarks or registered trademarks of their respective owners. CONTACT: CTB International Corp. Don Steinhilber, 219/658-4191 http://www.ctbinc.com |
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