Advertisement

If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)

ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.

ENJOY UNLIMITED ACCES TO C&EN

Business

Warren Buffett invests in Lanxess

by Alex Scott
June 5, 2017 | A version of this story appeared in Volume 95, Issue 23

Berkshire Hathaway, the holding company run by famed investor Warren Buffett, has acquired a 3% stake in specialty chemical producer Lanxess for $208 million. News of the purchase boosted Lanxess’s share price by about 10%. Berkshire’s investment appears to endorse Lanxess’s strategy to reduce costs, off-load commodity chemicals, and expand into specialties. Lanxess sold half its rubber business to Saudi Aramco for $1.3 billion in 2015 and acquired Chemtura for $2.5 billion last year. Buffett has a fondness for the chemical industry. Berkshire owns the chemical maker Lubrizol and for eight years owned $3 billion in preferred Dow Chemical shares.

Article:

This article has been sent to the following recipient:

0 /1 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.