Berkshire Hathaway’s CTB, Inc. is projected to have strong growth in its sales of poultry processing equipment.
According to a report published on marketsandmarkets.com, the poultry processing equipment market is projected to reach USD 3.83 Billion by 2020, at a CAGR of 4.7% from 2015 to 2020.
The report “Poultry Processing Equipment Market by Type (Chicken, Turkey, Ducks), Equipment Type (Killing & Defeathering, Evisceration, Cut-ups, Deboning & Skinning, Marinating & Tumbling), Product Type, & by Region – Global Forecast to 2020,” notes that “increased consumption of processed food, the government support for the use of equipment in developing countries, the demand for food safety, safety of workers, environment and sustainability, the presence of small and medium enterprises in developing countries, rising raw material costs, and international trade rules are the major drivers for the poultry processing equipment market.”
In 2016, CTB acquired the majority share in Danish company Cabinplant A/S. The acquisition added additional poultry processing equipment to CTB’s existing line of Meyn processing equipment for poultry, as well as processing solutions for fish and shellfish, fruit and vegetables, and convenience foods.
“Market requirements are constantly increasing,” states Erik Blom, Managing Director of Meyn Food Processing Technology, “and we will keep investing in intelligent solutions according to different international standards.” With three production sites in Oostzaan/The Netherlands, Poland and the United States as well as offices all over the world, Meyn is in close cooperation and communication with their clients in over 100 countries and prepared to answer the challenges of the future.
© 2017 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.