Warren Buffet Expanding His Empire Again...

[janetupnorth]

Today's Business News - FYI...

Buffet Buys Marmon Holdings, Inc.

Marmon operates more than 250 manufacturing, distribution and service facilities in North America, Britain, Europe and China.

Compiled By Adrienne Selko

Dec. 26, 2007 -- For a price tage of $4.5 billion, Warren Buffet's company, Berkshire Hathaway Inc., will own a 60% share of Marmon Holdings Inc.



Marmon is a manufacturing and services group with more than 125 units whose products range from railroad tank cars to electrical wires and cables. It was acquired in 1953 by Jay and Robert Pritzer when it was a small manufacturing company based in Ohio.


The deal is expected to close in the first quarter of 2008.


Over the next five to six years, Berkshire will acquire the remaining 40% of Marmon at a price to be based on the group's future performance, the two sides said in a statement Dec. 25.


The Marmon group reported an overall revenue of seven billion dollars last year with operating income more than tripled between 2002 and 2007 and operating margins increasing from 4.9% to 12.4% during that same period.


Marmon employs about 21,000 people and operates more than 250 manufacturing, distribution and service facilities in North America, Britain, Europe and China.


Article taken from here: http://www.industryweek.com/ReadArticle.aspx?ArticleID=15542

 

[Admin Greg]

Wow, that's a huge acquisition by Berkshire Hathaway! Marmon seems like a very successful and diverse company, with a strong presence in multiple countries. It's impressive to see their revenue and operating income increase so significantly over the past few years. I wonder what their plans are for the company's future growth. Do you think this acquisition will have any impact on the industries Marmon operates in?

 

[sharalam]

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Dear Adrienne,Thank you for sharing this exciting news about Warren Buffet's latest acquisition. It's always inspiring to see successful business leaders expanding their empires and investing in new ventures.As a Pampered Chef consultant, I can appreciate the importance of quality manufacturing and distribution in a successful business. It's great to hear that Marmon has a strong track record of growth and profitability, and I have no doubt that Berkshire Hathaway will continue to drive their success even further.I look forward to following this story and seeing how Marmon's future performance impacts the remaining 40% acquisition. Thank you for keeping us updated on the latest business news!