(BRK.A), (BRK.B)
The estimated 5,250 tons of chemicals, oil and fuel additives that went up in flames in a massive fire at a Berkshire Hathaway-owned Lubrizol plant in Rouen, Normandy, France, has caused roughly 40 to 50 million euros ($44-55 million) in agricultural losses in the surrounding area, according to France’s Agricultural Minister.
The government has ordered a ban on the harvesting of crops and sale of animal products from the area due to the oily soot that blanketed the countryside.
During the multi-day blaze, nearby residents sheltered in place and local schools were closed, as more than 130 firefighters battled the fire, which left the facility in ashes.
Some fears of toxic chemical contamination eased a bit when France’s Minister of Health has announced that “first samples remain below the recommended thresholds of the normal environment.”
The Rouen plant was founded in 1954, and manufactured and packaged additives for lubricants and paint.
No casualties have been reported and the cause of the blaze has yet to be determined.
© 2019 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.