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Keyword: marmon

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  • Buffet buying majority stake in industrial firm

    12/25/2007 4:18:13 PM PST · by mdittmar · 28 replies · 229+ views
    AFP ^ | 12/25/07 | AFP
    - US billionaire investor Warren Buffet is reportedly paying 4.5 billion dollars for a majority stake in Marmon Holdings Inc., an industrial conglomerate owned by one of America's richest families. Buffet's Berkshire Hathaway Inc. is acquiring 60 percent of the industrial firm from Chicago's Pritzker family, which has owned Marmon for more than 50 years, The Wall Street Journal reported online.Marmon, whose businesses range from plumbing products to electrical wire and cable, boasts seven billion dollars in annual revenue and more than 125 operating units, the daily said. Its biggest unit is the railroad tank car maker Union Tank Car.Berkshire...