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Berkshire Hathaway acquires chemical maker Lubrizol for $9bn

Nebraska-based Berkshire Hathaway has completed its $9bn acquisition of specialty chemical maker Lubrizol.

With the closing of this transaction, Lubrizol is now a wholly-owned subsidiary of Berkshire Hathaway, providing technology, outstanding service and superior global supply chain support to its customers.

As a part of this acquisition, Lubrizol’s international headquarters remain located in Ohio and the company continues to be led by chairman, president and CEO James Hambrick.

Hambrick said as part of Berkshire Hathaway, the firm had a real and significant opportunities to continue creating customer value by providing complex and innovative chemistries, formulations and solutions for some of the most demanding performance applications in the world.

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.