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Warren Buffets Berkshire Hathaway Is Now In The Cannabis Business
CORONA, Calif., Nov. 13, 2014 /PRNewswire/ — AVT, Inc. (OTC Markets: AVTC) (www.autoretail.com), a design integrator and manufacturer of high performance automated retailing systems, custom vending machines, and compliance and control mechanisms for the rapidly growing legal cannabis industry, commented on the news that Warren Buffet’s Berkshire Hathaway Company has entered the legal marijuana industry.
An article in Bloomberg News, reported that Warren Buffet owes part of his fortune to selling ice cream, soft drinks and candy. Now, a company in Buffet’sBerkshire Hathaway Inc. is turning to marijuana.
That subsidiary is Cubic Designs, Inc., a unit of Berkshire’s MiTek business, which specializes in making platforms that maximize floor space in warehouses. Recently Cubic Designs sent fliers to marijuana dispensaries with offers to help them expand the number of plants they cultivate. The fliers say that Cubic Designs can help double their growing space and improve their profits.
As reported in Marijuana Investor News, there is a growing acceptance of marijuana. “Not too long ago, this kind of effort was unfeasible for a major corporation,” the report stated. “It has become much more acceptable in the United States. Colorado and Washington have legalized the drug for recreational use, and Alaska and Oregon will be joining them in 2015. On top of that, marijuana is legal for medical use in 23 states.”
James Winsor, CEO of AVT, Inc., commented that when Warren Buffet invests in an industry, the world takes notice. “Buffet is currently the third richest personin the world, an accomplishment made by finding growth opportunities in industries and companies such as Dairy Queen, See’s Candies, and Coca-Cola,” he said. “With the marijuana industry growing rapidly and gaining both acceptance and momentum, there are tremendous opportunities for companies that supply products, services, and technologies to this market.”
AVT is a trusted supplier of technology and systems to the legal cannabis industry. “We co-develop and manufacture systems for our clients that help improve cannabis security, while providing compliance with all regulations, which is essential to the industry’s future growth,” Winsor noted. “I believe forward-thinking systems such as ours will be a vital part of the cannabis industry well into the future.”
For information, call AVT: (877) 424-3663, or visit: www.autoretail.com.
SOURCE AVT, Inc.