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CTB Purchases the Assets of LeMar Industries



  CTB Purchases the Assets of LeMar Industries

Business Wire

MILFORD, Ind. -- December 31, 2012

CTB, Inc. (www.ctbinc.com) announced today that it has purchased the assets of
Martin Industries, Corp. and its related subsidiaries including LeMar
Industries Corp. (www.lemarindustries.com). LeMar, headquartered in Des
Moines, Iowa, is a leading designer and manufacturer of all of the structures
and equipment related to loading, unloading and moving grain through a grain
storage facility including catwalks, towers, bucket elevators, conveyors and
sweeps. The company also makes temporary grain storage. Terms of the
transaction were not disclosed.

Martin Industries is also the parent company for Riley Equipment, which makes
bucket elevators, grain conveyors and other bulk material handling equipment;
Hall Industries, a custom designer and metal fabricator with a
state-of-the-art powder-coating operation; Midwest Bearing & Supply, a bearing
and power transmission supply house; and The Grain Reclaim Machine Company, a
grain pickup service. The company operates from facilities in Des Moines and
Sheffield, Iowa, as well as from Vincennes, Indiana. Lemar’s facilities
encompass more than 300,000 square feet of manufacturing space with a focus on
precision in-house engineering and lean manufacturing. The company employs
nearly 200 people and is widely recognized for its proven ability to design
custom solutions for customers in the U.S. and around the world. It is an
American Institute of Steel Construction (AISC) certified fabricator.

CTB president and chief executive officer Victor A. Mancinelli noted that the
acquisition completes CTB’s offering to the grain industry. “Adding LeMar’s
leading grain handling systems to Brock’s line of grain storage, handling,
conditioning and drying solutions means that CTB’s Brock division can now
offer its customers and dealers a complete grain preservation package,” said
Mancinelli. “The acquisition also provides CTB with additional engineering
expertise and talented people as well as with manufacturing options in the
heart of the U.S. grain belt.”

Mancinelli added, “LeMar has had a close relationship with Brock and its
dealers for many years. This broadening of our already strong grain product
line should benefit our dealers and customers tremendously through the ability
to rely on Brock as a single source solution to their needs.”

LeMar was founded in 1982 by Bob and Sharron Martin. Bob Martin has managed
the company together with his sons Scott and Richard for the last 11 years.
After the acquisition, the senior managers, Scott Martin and Jason Luster,
will continue in their respective leadership roles and will report to CTB’s
Doug Niemeyer, Executive Vice President and General Manager of CTB’s Brock
Grain Systems business unit. Niemeyer remarked, “We are very pleased to add
these two grain industry leaders to our team.” CTB will continue operations in
the existing LeMar facilities.

Commenting on the acquisition, Bob Martin said, “My family and I are thrilled
to find such a great home for the business we started thirty years ago. Brock
is well known as an industry leader, and, with its backing by CTB and
Berkshire Hathaway, it offers great stability and promise for the future of
LeMar’s brands and product lines.”

About CTB

CTB, Inc. (www.ctbinc.com), a Berkshire Hathaway company, is a leading global
designer, manufacturer and marketer of systems and solutions for producing
grain, poultry, pigs and eggs; and for processing poultry. Its products and
services are “Helping to Feed a Hungry World®” through grain storage,
handling, conditioning and drying; through improved efficiency and air quality
management in the care of poultry and livestock; and through efficient and
high yield poultry processing. CTB also produces equestrian enclosures and
makes equipment for various industrial applications. Founded in 1952, CTB has
been dedicated to “Leadership Through Innovation®” throughout its history. The
company operates from multiple locations in various countries around the world
and serves its customers through a worldwide network of independent dealers
and distributors.

© 2012 CTB, Inc.

All trademarks and registered trademarks included in this release are the
intellectual property of CTB, Inc. and/or its affiliates.

Contact:

CTB, Inc.
Tom Lippi, 574-658-5457
Susan Hight, 574-658-5125
ctb@ctbinc.com
www.ctbinc.com
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