By - Dec 8, 2010 3:00 AM GMT+1300
Howard S. Brembeck, who founded the livestock and farming equipment maker that was bought by Warren Buffett’s Berkshire Hathaway Inc., has died. He was 100.
Brembeck died on Dec. 5, CTB Inc., the company he established in 1976, said today in a statement on its website. Brembeck retired from the Milford, Indiana-based firm in 1995.
Buffett said last year in an address to CTB employees that his 2002 acquisition of the unit was “a lucky day” for Omaha, Nebraska-based Berkshire. The company paid about $177 million for CTB, according to Bloomberg data, and Buffett bankrolled the unit’s expansion through at least six acquisitions, including the purchase of Porcon group of Deurne, the Netherlands. Buffett, 80, has pledged support for the firm’s expansion.
“We’ll hit a bump in the road every now and then but we’re looking at a superhighway out there in front of us,” Buffett told CTB staff in a video posted on the CTB website.
Brembeck began selling equipment for poultry and livestock farmers through Chore-Time, a CTB predecessor, in 1952, according to the company. He later added storage bins for commercial grains to his offerings. CTB’s hog products include pig feeders and ventilation fans.
“Howard created a legacy of innovation” said Victor Mancinelli, president and chief executive officer of CTB, in the statement.
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