Berkshire Hathaway’s Warren Buffett has indicated interest in obtainingvarious European firms
One of Warren Buffett’s biggest divisions at Berkshire Hathaway Inc. arranged to purchase Wilhelm Schulz GmbH, a German manufacturer of piping mechanisms, as the tycoon’s representatives pursue contracts to grow its European business.
According to a recent report by The BHB Group, Mark Donegan, CEO of Berkshire’s Precision Cast parts division, stated that it is in the process of acquiring Wilhelm Schulz but did not offer any detail of the terms of the agreement.
“Wilhelm Schulz was established as a producer of stainless steel piping components after World War 2, later growing its business abroad,” said Lee Donsen at The BHB Group.
In February last year Buffet was quoted as saying that he wanted Donegan to locate more potential purchases after Berkshire obtained his aerospace contractor. The newly acquired subsidiary already boasts several production units, which manufacture accessories for power plants, pipes and jet engines.
Europe has been a fairly untouched market for Buffett’s Berkshire Hathaway but the billionaire indicated his strong intent to alter that fact as far back as 2008.
In 2008, Buffet traveled to Europe to underline his company’s intent to purchase businesses and seize opportunities across Europe. He referred to his purchase of the German motorcycle accessories and apparel brand as a door opener for his company in the region.
Added to the list of Berksire’s European purchases was Zephir SpA, an Italian constructor transport vehicles that transfer train cars in rail yards towards the end of last year.Other European purchases were announced earlier in 2017.
About The BHB Group:
The BHB Group was formed in September 2002 as an innovative professional financial services firm which specialises in holistic and individually tailored client-centred care for all of an individual’s financial needs that enriches the business ventures and personal lives of our clients by appropriately positioning and protecting what they have today, planning for what they want in their future and preparing the path by which they’ll reach their goals.
Contact The BHB Group:
Level 24, 4018 Jintian Rd,
FuTian CBD, FutianQu,
Shenzhen, Guangdong Sheng,
China, 518000
+85258083771
info@thebhbgroup.com
http://www.thebhbgroup.com
Leave Your Comments