MIRA
INFORM REPORT
|
Report Date : |
15.01.2007 |
IDENTIFICATION
DETAILS
|
Name : |
CTB,
INC. |
|
|
|
|
Registered Office : |
611
North Higbee Street, Milford, Indiana 46542 |
|
|
|
|
Country : |
United
States |
|
|
|
|
Date of Incorporation : |
1952 |
|
|
|
|
Legal Form : |
Corporation
– Private |
|
|
|
|
Line of Business : |
Designer,
manufacturer and marketer of agricultural systems and solutions. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Status : |
Satisfactory
|
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company
Name : CTB, INC.
Trade
Name(s) : Chore-Time Brock
Address : 611 NORTH HIGBEE
STREET
City : MILFORD
State/Province : INDIANA
Zip Code : 46542
Country : UNITED STATES
Telephone : 574 658-4191
Facsimile : 574 658-3471
Legal
Form : Corporation -
Private
Founded
(D/M/Y) : / /1952
As of :
Sales /
Revenue :
Net
Income :
Total
Equity :
Number
of Employees : 1,300
Website : www.ctbinc.com
Business
Activity : The Company engages
as a designer, manufacturer and marketer of
agricultural systems and solutions. It serves the poultry, hog, egg production,
and grain industries in the global markets.
NOTE TO CLIENT
NOTE:
REGARDING A REQUEST FOR A REPORT ON " CHORE-TIME BROCK INTERNATIONAL" LOCATED AT " 407 NORTH MAIN STREET,
P.O. BOX 2000" IN MIFORD,INDIANA.
BE ADVISED THAT THE CHORE-TIME BROCK INTERNATIONAL IS A DIVISION OF " CTB,
INC" . AS WE ONLY PROVIDE REPORTS ON LEGAL ENTITIES, A REPORT HAS BEEN
PROVIDED ON THE LEGAL ENTITY, " CTB, INC." IN ADDITION, THE ADDRESS WHICH IS LISTED IN THE HEADER IS THE
HEADQUARTERS ADDRESS FOR CTB, INC. THE
REQUESTED ADDRESS (407 NORTH MAIN STREET) IS INCORRECTLY WRITTEN. THE CORRECT ADDRESS IS WRITTEN AS "
417 NORTH MAIN STREET" AND SERVES
AS THE OFFICE OF THE DIVISION " CHORE-TIME BROCK INTERNATIONAL" .
------------------------------------------------------------
PERSON
CONTACTED:
Mr.
Randy Evler, Controller.
LEGAL
Legal
Form :
Corporation - Private
Since
(D/M/Y) :
22/09/1995
State/Province
of Incorporation : INDIANA
Status : ACTIVE
Previous
Legal Form:
Company
is NOT required to publish an annual financial report.
Entity
Legal Name: CTB, INC.
Entity
Address: 611 N HIGBEE STREET
MILFORD, IN 46542
Control
Number: 1995091067
Registration
Status: ACTIVE
Entity
Type: For-Profit Domestic Corporation
Entity
Creation Date: 9/22/1995
-----
OTHER
NAMES FOR THIS ENTITY
Date Name
(Type)
---- ----------
10/13/1995 CBT
VENTURES, INC. (Former)
01/11/2002 CTB
LOGISTICS (Assumed)
02/1/2002 BEARD
INDUSTRIES (Assumed)
02/13/2004 CTB
ADVERTISING (Assumed)
03/9/2004 BROCK
MANUFACTURING GRAIN CONDITIONING GROUP
(Assumed)
04/5/2005 CHORE-TIME EGG PRODUCTION SYSTEMS (Assumed)
04/5/2005 CHORE-TIME
HOG PRODUCTION SYSTEMS (Assumed)
04/5/2005 CHORE-TIME
POULTRY PRODUCTION SYSTEMS (Assumed)
04/5/2005 CHORE-TIME
BROCK INTERNATIONAL (Assumed)
04/5/2005 BROCK
GRAIN SYSTEMS (Assumed)
06/26/2006 BROCK
INDUSTRIAL SYSTEMS (Assumed)
Managers/Key
Personnel
Mr.
Victor A. Mancinelli President
Mr. Don
Steinhilber Vice Pres. & Chief Financial Officer
Mr. Rick
VanPuffelen Vice
President - Sales
Mr.
Randy Evler Controller
Mr.
George W. Murdoch General Manager
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General
Star Indemnity Company
General
Star National Insurance Company
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Reinsurance Life Australia Ltd.
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Reinsurance Africa Ltd.
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Reinsurance UK Limited
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Diamond Shops, Inc.
H. H.
Brown Shoe Company, Inc.
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Plaza, Inc.
International
Dairy Queen, Inc.
Johns
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Johns
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Johns
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Jordan’s
Furniture, Inc.
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Protective Corporation
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Inc.
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National
Indemnity Company of the South
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Indemnity Company of Mid-America
National
Liability and Fire Insurance Company
National
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National
Reinsurance Corporation
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Inc. Delaware
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The
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Willey Home Furnishings
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Fire and Casualty Insurance Company
Schuller
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Corporation
XTRA
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Parent Companies
Parent
Company: BERKSHIRE HATHAWAY INC.
1440 Kiewit Plaza
Omaha, NE 68131 NE 68131
UNITED STATES
CTB,
Inc. is a subsidiary firm and as such, all of its financial activities are
consolidated within the financial statements of the parent company, Berkshire
Hathaway Inc.:
BERKSHIRE
HATHAWAY INC. - BALANCE SHEET
(expressed
in Thousands of U.S. Dollars)
FOR THE FISCAL PERIODS ENDING
30-Sep-2006 31-Dec-2005 31-Dec-2004
31-Dec-2003
ASSETS -----------
----------- -----------
Total Current Assets 55,870,000 57,057,000
62,794,000
Total Assets 240,002,000
198,325,000 188,874,000
----------- ----------- -----------
LIABILITIES
Total Current Liab. 16,995,000
22,111,000 30,314,000
Total Liabilities 137,758,000
106,841,000 102,974,000
----------- ----------- -----------
SHAREHOLDERS' EQUITY
Retained Earnings 55,329,000
47,717,000 39,189,000
Total Equity 102,244,000
91,484,000 85,900,000
=========== =========== ===========
----------------------------------------------------------------
BERKSHIRE HATHAWAY INC. - PROFIT & LOSS ACCOUNT
(expressed in Thousands of U.S. Dollars)
FOR THE FISCAL PERIODS ENDING
30-Sep-2006 31-Dec-2005 31-Dec-2004
----------- ----------- -----------
Global Net Sales 25,360,000
82,451,000 74,382,000
Cost Of Goods Sold 13,277,000
38,288,000 35,882,000
----------- ----------- -----------
Gross Result 12,083,000
44,163,000 38,500,000
Operating Result 3,088,000
16,103,000 13,977,000
-----------
----------- -----------
Net Annual Incomes 2,772,000
8,528,000 7,308,000
=========== =========== ===========
----------------------------------------------------------------
Berkshire
Hathaway Inc. is a public company trading stock as follows:
--
Ticker
Symbol: BRK.A
Stock
Exchange: NYSE
Recent
Trade: $110,000.00
52 Week
High: $114,499.99 (18-Dec-2006)
52 Week
Low: $ 85,400.00 (18-Apr-2006)
Outstanding
Shares: 1,125,000
Market
Value of Shares: $123.75 Billion
Subsidiaries
IN
UNITED
STATES
NAME OF
SUBSIDIARY LOCATION
------------------ --------
Agile
Mfg., Inc. United States
Fancom B.V. Netherlands
Roxell
N.V. Belgium
Divisions
Brock
Grain Systems UNITED STATES
Chore-Time
Brock International UNITED STATES
Chore-Time
Egg Production Systems UNITED STATES
Chore-Time
Hog Production Systems UNITED STATES
Chore-Time
Poultry Production UNITED STATES
BANKS
Telephone:
Facsimile:
Account
Number:
Account
Manager:
A bank
reference ecould not be obtained.
SOCIETY NATIONAL BANK is listed as a secured party; however, we could
not determine whether it is a current bank of use.
PAYMENT HISTORY
BUSINESS
DATE LAST PAYMENT CREDIT BALANCE CUR 1- 31- 61-
CATEGORY
REPTD SALE TERMS $
$ % 30
60 90 91+ COMMENTS
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
BLDG MATRL 06-12 06-12 VARIED 1200
100 100 0 0
0 0 CUST 11 YR
FACTOR
06-11 00-00 NET 30 0 0 0 0 0
0 0
FACTOR
06-12 00-00 VARIED 0 0 0 0 0
0 0
FACTOR
06-11 06-09 NET 30 700 0
0 0 0 0 0
FACTOR
06-12 00-00 NET 30 0 0 0 0 0
0 0
FACTOR
07-01 06-06 NET 1500 0
0 0 0 0 0 CUST 7 YR
FINCL SVCS 06-12 06-10 NET 1000
0 0 0
0 0 0 CUST 2 YR
FREIGHT
06-09 06-09 VARIED 94400 77200
91 9 0 0 0
FREIGHT
06-12 06-11 VARIED 2000 1500
100 0 0 0
0
INDUS MACH 06-12 00-00 NET 30 0
0 0 0
0 0 0
INDUS SUPL 06-12 00-00 1/10N30 1200 0
0 0 0 0 0
MACH DISTR 06-11 06-11 1/10N30 1900 1900
100 0 0 0
0 CUST 10 YR
MANUFCTRNG 06-11 06-11 NET 30 35000
9200 100 0 0
0 0
NEWSPAPERS 06-12 06-09 NET 15 3900
0 0 0
0 0 0
PETROLEUM
06-12 05-12 VARIED 2100 0
0 0 0 0 0
ACCTCLOSED
PRI METALS 06-12 06-11 VARIED 100000
87600 100 0 0
0 0
TRANSPORTN 06-12 06-11 NET 20 0 0
0 0 0 0 0
TRUCK DLR
06-12 00-00 CONTRCT 27400
200 52 48
0 0 0
WAREHOUSE
06-09 98-03 VARIED 0 0 0 0 0
0 0 ACCTCLOSED
ADVERTISNG 06-05 05-11 NET 15 100
0 0 0
0 0 0 PROMPT
AIR TRANS
05-12 00-00 NET 30 700 0
0 0 0 0 0
CUST 3 YR
COMPUTERS
04-02 00-00 NET 30 0 0 0 0 0
0 0
COMPUTERS
06-06 06-05 0000000 63100
14100 0 99
1 0 0
CRED CARD
07-01 06-12 REVOLVE 5900 2500 100 0 0
0 0 ACCTCLOSED
CRED CARD
06-08 06-07 N30PRXO 2200
300 100 0 0
0 0 CUST 25 YR
ELEC DISTR 06-05 00-00 NET 30 0
0 0 0
0 0 0
ELEC SUPLR 04-08 04-05 2/10N30 800 0
0 0 0 0 0
FACTOR
06-08 05-12 NET 30 0 0 0 0 0
0 0
INDUS MACH 05-05 00-00 NET 30 0
0 0 0
0 0 0
METAL DIST 06-05 06-05 5/10N30 80400 24500
100 0 0 0
0
MISC MANUF 04-02 04-01 VARIED 2000
0 0 0 0
0 0
PACKAGING
04-07 97-09 NET 30 0 0 0 0 0
0 0
PAINTS
04-12 00-00 VARIED 0 0 0 0 0
0 0
SAFTY PROD 06-03 00-00 NET 30 900
0 0 0
0 0 0 CUST 1 YR
SERVICES
05-11 05-03 NET 30 0 0 0 0 0
0 0 CUST 6 YR
SERV ASSOC 05-10 00-00 NET 15 600
0 0 0
0 0 0
TELECOM
05-03 00-00 NET 30 100 100
100 0 0 0
0
TRANSPORTN 05-07 00-00 NET 15 0
0 0 0 0
0 0 ACCTCLOSED
CURRENT QUARTER 272300
177700 96 4
0 0 0
Payment Trends
INDUSTRY BUSINESS
BALANCE CUR 1- 31- 61-
DATE
CUR DBT DBT $ % 30
60 90 91+
-------- --- --- --- -------- --- --- --- --- ---
20061200
0 8 1 94400 92 8
0 0 0
20061100
0 8 1 147500 94 6
0 0 0
20061000
0 7 1 146700 94 6 0
0
0
20060900
0 5 0 71200 99 1
0 0 0
20060800
0 7 21 159200 46 36
1 9 8
20060700
0 6 14 118600 55 32
3 10 0
Payment History - Quarterly Averages
BALANCE CUR 1-
31- 61-
QUARTER
YEAR DBT $ % 30 60
90 91+
-------- ------ ---
-------- --- --- --- --- ---
Fourth
2006 1 139400 94 6 0
0 0
Third
2006 9 125300 75 18 0
4 3
Second
2006 9 70700 69 22 3
6 0
First
2006 2 36100 87 12 1
0 0
Fourth
2005 1 64000 93 7
0 0 0
FINANCIAL INFORMATION
Financial
information could not be obtained from management at this time. Outside sources
report the annual sales in the US $250 million range; however, this could not
be confirmed with management.
CURRENT OPERATIONS
NAICS
Code: 11 Agriculture, Forestry, Fishing, and Hunting
Number
of Employees: 1,300
Business Activity:
The
Company engages as a designer, manufacturer and marketer of agricultural
systems and solutions. It serves the
poultry, hog, egg production, and grain industries in the global markets.
- -
-
The
heading address is the Company headquarters and serves as an administrative
office, manufacturing plant, warehouse, and distribution & sales office. The property is owned by the
Company.
--
MAILING
ADDRESS
---------------
P.O. Box
2000
Milford,
IN 46542
--
BRANCH
LOCATIONS
----------------
Chore-Time
Brock International (Division)
417
North Main Street
Milford,
IN 46542
PUBLIC RECORD
A search
of public revealed the following:
-----
Name
Searched: CTB INC
Defendant:
CTB Inc Doing Business as Chore-Time Equipment, A Division of
CTB Inc
Filing
Date: 1/6/2005
Filing
Type: Civil
Plaintiff
Counsel: Yonay, Guy [COR LD NTC]
Eitan
Pearl Latzer & Cohen Zedek LLP
10
Rockefeller Plaza Suite 1001
New
York, NY, USA 10020
(212)
632-3480 Fax: (212) 632-3489
Vaughan,
Stephen Lewis [COR LD NTC]
Indiano
Vaughan Roberts & Filomena
One
North Pennsylvania Street Suite 850
Indianapolis,
IN, USA 46204
(317)
822-0033 Fax: (317) 822-0055 Email: Steve@iplawindiana.com
Plaintiff:
Plasson Ma'agan Michael Industries Ltd
Plasson
Ltd
-----
Name
Searched: CTB INC
Debtor
Address: CTB, INC.
P.O. BOX
2000
MILFORD,
IN 46542-2000
Secured
Parties: THE CIT GROUP/EQUIPMENT FINANCING, INC.
Filing
Date: 9/11/2006
Filing
Number: 0600008548134
Filing
Type: CONTINUATION
Original
Filing Number: 0200002069798
-----
Name
Searched: CTB INC
Debtor
Address: CTB , INC.
P.O. BOX
2000
MILFORD,
IN 46542
Secured
Parties: H.B. GREEN MACHINERY CO , INC.
Filing
Date: 6/19/2001
Filing
Number: 0100003427453
Filing
Type: INITIAL FILING
-----
Name
Searched: CTB INC
Debtor
Address: CTB, INC.
STATE
ROAD 15 NORTH P.O. BOX 2000
MILFORD,
IN 46542-2000
Secured
Parties: SOCIETY NATIONAL BANK
Filing
Date: 7/19/2005
Filing
Number: 0500006435217
Filing
Type: CONTINUATION
Original
Filing Number: 2027633
-----
Name
Searched: CTB INC
Debtor
Address: CTB, INC.
PO VBOX
2000
MILFORD,
IN 46542
Secured
Parties: CIBER ENTERPRISE SOLUTIONS
Filing
Date: 4/11/2005
Filing
Number: 0500003308859
Filing
Type: INITIAL FILING
-----
Name
Searched: CTB INC
Debtor
Address: CTB, INC.
STATE
RD. 115 NORTH
MILFORD,
IN 46542
Secured
Parties: THE TECHS, A PENNSYLVANIA LIMITED PARTNERSHIP (ASSIGNEE)
Filing
Date: 6/30/2004
Filing
Number: 0400006238651
Filing
Type: ASSIGNMENT
-----
Name
Searched: CTB INC
Debtor
Address: BROCK GRAIN
611
NORTH HIGBEE STREET PO BOX 2000
MILFORD,
IN 46542
BROCK
GRAIN SYSTEMS
611
NORTH HIGBEE STREET PO BOX 2000
MILFORD,
IN 46542
CTB,
INC.
611
NORTH HIGBEE STREET PO BOX 2000
MILFORD,
IN 46542
Secured
Parties: MC MACHINERY SYSTEMS, INC
Filing
Date: 4/28/2005
Filing
Number: 0500003919463
Filing
Type: INITIAL FILING
-----
Name
Searched: CTB INC
Debtor
Address: BROCK MANUFACTURING
P.O. BOX
2000
MILFORD,
IN 46542
CTB,
INC.
P.O. BOX
2000
MILFORD,
IN 46542
Secured
Parties: UNITED RENTALS, INC.
Filing
Date: 6/2/2005
Filing
Number: 0500005083457
Filing
Type: INITIAL FILING
-----
Name
Searched: CTB INC
Debtor
Address: CTB, INC.
STATE
ROAD 15 NORTH
MILFORD,
IN 46542
Secured
Parties: DIGITERRA, INC.
Filing
Date: 1/20/2004
Filing
Number: 0400000622208
Filing
Type: INITIAL FILING
-----
No
additional UCC filings or legal proceedings, or any bankruptcy petitions or tax
liens were found against the firm at this time.
GENERAL COMMENTS
CTB,
Inc., incorporated in 1995 in the state of Indiana, engages as a designer,
manufacturer and marketer of agricultural systems & solutions. A payment record appears in good
condition. A search of public records
revealed some negative findings.
However, no bankruptcy petitions were found against the Company. The
Company is considered well-established,
and appears responsible for all normal business transactions.
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|