Berkshire Hathaway Acquisition of Lubrizol Scheduled to Close on Friday, September 16, 2011
14 Septembre 2011 - 8:05PM
Business Wire
Berkshire Hathaway Inc. (NYSE: BRK.A, BRK.B) and The Lubrizol
Corporation (NYSE: LZ) received notification from the Ministry of
Commerce of the People’s Republic of China (MOFCOM) that it has
formally approved Berkshire Hathaway’s planned acquisition of the
global specialty chemical company.
The parties expect the transaction to close on Friday, September
16, 2011.
About Berkshire Hathaway
Berkshire Hathaway and its subsidiaries engage in diverse
business activities including property and casualty insurance and
reinsurance, utilities and energy, freight rail transportation,
finance, manufacturing, retailing and services. Berkshire’s common
stock is listed on the New York Stock Exchange, trading symbols
BRK.A and BRK.B.
About The Lubrizol Corporation
The Lubrizol Corporation (NYSE: LZ) is an innovative specialty
chemical company that produces and supplies technologies to
customers in the global transportation, industrial and consumer
markets. These technologies include lubricant additives for engine
oils, other transportation-related fluids and industrial
lubricants, as well as fuel additives for gasoline and diesel fuel.
In addition, 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. Lubrizol’s industry-leading
technologies in additives, ingredients and compounds enhance the
quality, performance and value of customers’ products, while
reducing their environmental impact.
With headquarters in Wickliffe, Ohio, The Lubrizol Corporation
owns and operates manufacturing facilities in 17 countries, as well
as sales and technical offices around the world. Founded in 1928,
Lubrizol has approximately 7,000 employees worldwide. Revenues for
2010 were $5.4 billion. For more information, visit
www.lubrizol.com.
Forward-Looking Statements
This release contains forward-looking statements within the
meaning of the federal securities laws. As a general matter,
forward-looking statements relate to anticipated trends and
expectations rather than historical matters. Forward-looking
statements are subject to uncertainties and factors relating to
Lubrizol’s operations and business environment that are difficult
to predict and may be beyond the control of Lubrizol. Such
uncertainties and factors may cause actual results to differ
materially from those expressed or implied by forward-looking
statements. Uncertainties and risk factors that could affect the
future performance of Lubrizol and cause results to differ from the
forward-looking statements in this release include, but are not
limited to, Lubrizol’s ability to manage margins in an environment
of volatile raw material costs; conditions affecting Lubrizol’s
customers, suppliers and the industries that it serves;
competitors’ responses to Lubrizol’s products; changes in
accounting, tax or regulatory practices or requirements; and other
factors that are set forth in management’s discussion and analysis
of Lubrizol’s most recently filed reports with the Securities and
Exchange Commission. The forward-looking statements contained
herein represent Lubrizol’s judgment as of the date of this
communication and Lubrizol cautions readers not to place undue
reliance on such statements. Lubrizol assumes no obligations to
update the forward-looking statements contained in this
release.
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