Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Berkshire Hathaway has entered into a definitive agreement to acquire 100% of outstanding shares of Ohio-based specialty chemical company Lubrizol for approximately $9.7bn.
Subscribe to our email newsletter
Lubrizol produces and supplies technologies to customers in the global transportation, industrial and consumer markets.
Lubrizol makes ingredients and additives for personal care products and pharmaceuticals; specialty materials, including plastics technology and performance coatings in the form of specialty resins and additives.
Warren Buffett led Berkshire Hathaway and Lubrizol expect the transaction to be completed during the third quarter of 2011.
Once the transaction is complete, Lubrizol will operate as a subsidiary of Berkshire Hathaway and will continue to provide technology, service and global supply chain support to its customers.
Lubrizol will remain located at its Wickliffe, Ohio, headquarters and will continue to be led by its current management team.