Categories
Berkshire Hathaway Specialty Insurance

Berkshire Hathaway Specialty Insurance Expands Team in Dubai

(BRK.A), (BRK.B)

Berkshire Hathaway Specialty Insurance Company (BHSI) has expanded its leadership team in Dubai with the appointment of executives to fill key product line and service posts.

“Building a strong foundation of servicing capabilities and local knowledge and expertise is critical to BHSI’s long term plans in the Middle East,” said Marc Breuil, President, BHSI, Asia Middle East. “Since DIFC BHSI commenced operations in February, we have established a strong and dynamic team to bring DIFC BHSI’s unmatched financial strength and capital to the Middle East.”

“Our new teammates in Dubai embody the excellent capabilities and strong character that is so valued by BHSI and by our customers,” said Alessandro Cerase, Senior Executive Officer, BHSI Middle East. “They will lead our efforts to bring BHSI’s long-term focus, multi-line underwriting and service excellence to customers throughout the Middle East. We are pleased to welcome them aboard.”

The BHSI appointees include:

• Aisling Malone, Head of Executive & Professional Lines. Aisling was previously Head of Professional Liability Cyber MENA and Senior Underwriter at AIG MEA Limited. Aisling is joined by Joe Saab, Senior Underwriter.
• Emir Erdur, Head of Casualty. He was previously Casualty Leader and Regional Underwriter of Casualty for the MEA region at QBE Insurance (Europe) Limited. Emir is joined by Mohammed Hannoun, Senior Underwriting Manager.
• Carlos Beltran, Head of Commercial Property. Carlos was previously Regional Vice President, P&C Underwriting at Chubb Latin America.
• Meenakshi Srinath, Head of Marine. Prior to BHSI, Meenakshi was Head of Marine (Gulf and KSA) at AXA Insurance Gulf.
• Kapil Palathinkal is Head of Energy and Construction. Kapil was most recently the Energy & Engineered Risk Manager for the Arabian Hub at AIG. Kapil is joined by Anuradha Sekar, Senior Underwriter.
• Pruthviraj More, Senior Risk Engineer. Pruthviraj joins BHSI from Allianz Global Corporate Specialty where he was a Property Loss Control Engineer.
• John Lewis, Head of Claims. John was previously Head of Claims at Zurich Insurance DIFC Dubai.

Earlier this year BHSI announced the appointment of Alessandro Cerase as Senior Executive Officer (SEO) and Neeraj Yadvendu as deputy SEO and Head of Third Party Lines for the Middle East, both based on Dubai. Alessandro also leads First Party Lines for BHSI’s broader Asia Middle East region, which includes BHSI’s other regional hubs of Hong Kong and Singapore as well as BHSI operations in Malaysia and Macau.

© 2018 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.

Categories
Uncategorized

Berkshire Hathaway Specialty Insurance Opens New Office in Munich, Germany

(BRK.A), (BRK.B)

Berkshire Hathaway Specialty Insurance (BHSI) has opened a new office in Munich, Germany, marking the latest advance in BHSI’s steady, strategic expansion of its global footprint and capabilities for customers and brokers worldwide.

“Our new presence in southeastern Germany enhances our ability to bring our full line of specialty insurance products, our financial strength, and our focus on service excellence to the German and European marketplace,” said Chris Colahan, President, BHSI in Europe and the UK. “We are excited to be in Munich, continuing to build our global team of individuals with stellar capabilities and character.”

The new office in Munich, along with the BHSI office in Dusseldorf, will underwrite property, casualty, medical malpractice, marine and executive & professional lines for a broad range of business segments in Germany.

BHSI also announced that it intends to build substantial local underwriting and claims capabilities in the new office and has filled its first two posts in Munich with Lars Messutat, Senior Underwriter, Property, and Florian Biebrach, Senior Underwriter, Financial Lines, both of whom relocated from BHSI in Dusseldorf.

© 2018 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.

Categories
McLane

McLane Goes into the Pizza Biz

(BRK.A), (BRK.B)

McLane Company, Inc., Berkshire Hathaway’s supply chain services company that provides grocery and foodservice supply chain solutions, has announced the debut of a new brand: Fly Guys Pizza.

The brand launched at the McLane National Tradeshow through its private label subsidiary, Consumer Value Products (CVP), in coordination with McLane’s foodservice-at-retail program, McLane Kitchen.

Made with premium toppings on a self-rising crust, Fly Guys Pizza arrives frozen and fully packaged for retailers to serve hot by the slice or by the 12” pizza, or the 12” pizzas can be merchandised for retail sale in the frozen section for consumers to bake at home. Fly Guys combines great taste with incredible value and is offered in three delicious flavors: pepperoni, five-meat and breakfast — because it’s never too early for pizza!

The brand was conceived with a unique story of two Italian skydivers. Legend has it that Luciano Rosso and Frederico Moretti had a shared passion for pizza AND skydiving, and they decided mid-air to join forces to share their love of Italian pies with the world. Thus, Fly Guys Pizza was born.

McLane Kitchen and CVP offer customers Fly Guys-branded packaging including pizza boxes and slice trays, equipment ranging from pizza ovens to serving utensils, as well as signage such as posters, menu boards and banners.

“We are thrilled to enter the most talked about category in convenience with Fly Guys Pizza program,” said Teresa Voelter, general manager of Consumer Value Products at McLane. “With retail and foodservice options, our customers will be enthusiastic about the program and its benefits to help drive their sales.”

In addition to Fly Guys Pizza, CVP is also proud to launch new products for Beau Dacious, its line of pet products, that include leashes and food/water bowls, as well as assorted fruit snacks and dinosaur fruit snacks for the YumBees brand at McLane’s National Trade Show.

CVP’s 240+ products are available to both McLane customers and non-McLane customers and are currently offered at retail locations nationwide.

© 2018 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.

Categories
Lubrizol

Lubrizol Selects MSA as New Distributor in the Andean Countries

(BRK.A), (BRK.B)

The Lubrizol Corporation has announced its Engineered Polymers business has selected MSA Marketing Services of America, as a new distributor for the thermoplastic polyurethane (TPU) portfolio of the company’s business throughout the Andean Countries.

MSA distributes engineering plastics with significant territory coverage for all Andean Countries and will focus efforts on Lubrizol’s Engineered Polymers’ portfolio on elastomers applications. They have warehouses and office facilities strategically located in Bogota, Colombia.

The agreement, which took effect July 1, 2018, includes the following key product lines which are well-suited for today’s innovative and demanding applications:

Estane(R) TPU: products are utilized in film and sheet, extrusion, blow molding, injection molding, over molding, calendaring and solution coating processes.

Isoplast(R) ETP: are hard and high flexural modulus polyurethane engineering resins with excellent chemical resistance and barrier properties.

Pearlbond(TM) TPU: Hot Melt Adhesives (HMA) and Reactive Hot Melts (HMPUR), typically used in automotive interior parts, bookbinding, furniture, textile and footwear.

Other products that will also be distributed by MSA are: Pearlthane(TM) TPU, Pearlthane(TM) ECO* TPU and Carbo-Rite(TM) Conductive Compounds.

Rogerio Colucci, Lubrizol engineered polymers business manager for Latin America comments, “It is exciting to work with MSA, as they have excellent in-depth knowledge of the engineering plastics markets in the Andean Countries. When combined with Lubrizol’s innovative and durable TPU solutions for specialized wire and cable, consumer, industrial, automotive and footwear applications, this will further enhance our ability to work closely with customers, helping them solve valuable problems and drive innovation and growth in the Andean Countries.”

George Lanza, president of MSA Group, comments, “With the new dynamics and demands of the high-tech resins market and considering the competitive value of taking advantage of the availability of advanced products that increase quality in a cost-effective manner, we are proud and fortunate to represent the products and the professional ethics of a large company such as Lubrizol. With this alliance we close the circle regarding our mission to continue helping our clients grow while maintaining the importance of understanding and appreciating the need to stay at the technological forefront in favor of a solid and sustainable growth.”

© 2018 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.

Categories
Mouser Electronics

Mouser Electronics Signs Distribution Agreement with Samtec

(BRK.A), (BRK.B)

Berkshire Hathaway’s Mouser Electronics, Inc., the industry’s leading New Product Introduction (NPI) distributor with the widest selection of semiconductors and electronic components, today announced a global distribution agreement with Samtec, a leader in the electronic interconnect industry and a global manufacturer of connectors, cables, optics and RF systems. Through the agreement, Mouser now stocks the full line of Samtec products, including high-speed board-to-board, connectors, cables, and optics.

“Samtec is renowned for its high-quality, reliable and innovative interconnect solutions,” said Jeff Newell, Senior Vice President of Products at Mouser Electronics. “We are excited to now offer Samtec’s products to our customers around the world and look forward to a mutually successful partnership.”

“Mouser is a proven leader in the industry, and we are proud to announce this distribution agreement,” said Ashley Quinlan, Strategic Marketing Director at Samtec. “Mouser recognizes that Samtec is a different type of supplier when it comes to offering bleeding edge technology with incredibly short lead times and on-time delivery rates, and their strategies have shown a commitment to bringing our product breadth to their customers.”

© 2018 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.

Categories
Berkshire Hathaway HomeServices

Century 21 Van Der Wende Associates Joins Berkshire Hathaway HomeServices

(BRK.A), (BRK.B)

Berkshire Hathaway HomeServices, part of the HSF Affiliates LLC family of real estate brokerage franchise networks, has announced that Century 21 Van Der Wende Associates has joined its network, operating as Berkshire Hathaway HomeServices Van Der Wende Properties.

The full-service brokerage, serving the greater North Jersey market, remains independently owned and operated by local real estate veterans Bob and Lorraine Van Der Wende. The two founded their company in 1980 and have grown it into a local powerhouse known for market expertise and superior client service. In fact, Van Der Wende Properties has led the Passaic Valley in home sales volume the last 27 years, according to Garden State MLS data. Berkshire Hathaway HomeServices remains among America’s fastest-growing real estate brokerage networks with 47,000+ agents and 1,400 offices named to the brand since its September 2013 launch.

“Van Der Wende Properties is a terrific brokerage and a clear market leader for nearly three decades – that’s huge for our brand,” said Gino Blefari, president and CEO of Berkshire Hathaway HomeServices. “The company is as much known for sound leadership and skilled, attentive sales professionals as it is for its work ethic and love for the business. We’re proud to welcome this team to Berkshire Hathaway HomeServices.”

“As brokerage owners, our responsibility is to provide our agents with the very best resources so that they may be their very best for their deserving clients,” said Broker Bob Van Der Wende. “I interviewed and researched every brokerage network you could imagine, and the one that met my tough criteria was Berkshire Hathaway HomeServices.”

The brand is fresh, progressive and distinctive, he continued, with core values closely aligned with those of his company: trust, integrity, stability and longevity. “Simply put, we think Berkshire Hathaway HomeServices is the best brand name in real estate, and when our agents are sitting across from a client that homebuyer or seller will feel instant trust and credibility.”

Lorraine Van Der Wende said Berkshire Hathaway HomeServices’ tools, resources and support will help her team win business, operate more efficiently and better serve clients. With their network membership, Van Der Wende Properties’ agents gain access to Berkshire Hathaway HomeServices’ Global Network Platform, a powerful tool suite driving lead generation, marketing support, social media, video production/distribution and more. The brand also provides international listing syndication, relocation referrals, professional education and the exclusive Luxury Collection marketing program for high-end listings.

“The network is committed to providing the best tools and systems to enable their franchisees to stand apart from the competition and be even more productive,” she said. “We are excited for our future with Berkshire Hathaway HomeServices.”

Bob Van Der Wende added that the brand will help Van Der Wende Properties recruit more of the region’s top sales professionals and reach new markets. “The possibilities are endless for a hard-working brokerage charged by the momentum and power of a brand that’s aggressively increasing market share, agent tools and support,” he said. “We will grow and serve more clients, from entry-level and move-up buyers to sellers of our markets’ finest luxury homes.”

© 2018 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.

Categories
Minority Stock Positions Stock Portfolio

101 BYD Electric Taxis Delivered to Bangkok

(BRK.A), (BRK.B)

China’s BYD recently delivered 101 of its e6 electric taxis to Bangkok, Thailand.

The e6 is powered by BYD’s proprietary lithium iron phosphate battery which is renowned for being safe, stable, and fast charging. With just two hours of charging time, BYD cars are able to travel up to 400 kilometers.

The BYD order is one of the city’s largest electric taxi fleet orders, and the company aims to introduce 1,000 pure electric taxis in Thailand by 2019.

The new e6 fleet will be utilized as VIP taxis and as part of a car sharing service.

The official selection of BYD as the provider of the country’s first fleet of pure electric taxis is in line with the country’s ambitions of having 1.2 million green energy vehicles ply its streets.

Taxis and buses are a major source of Thailand’s air pollution. With over 100,000 taxis and around 43,000 buses traversing hundreds of kilometers daily between Bangkok and its surroundings, the area suffers from a high level of vehicle exhaust emissions.

“Electric vehicles are being adopted around the world because they are cleaner and less noisy compared to combustion engine vehicles,” said Sanit Promwong, the Director of the Land Transport Department of Thailand. “We ultimately want our people to have a better living environment.”

Thailand has introduced policies ranging from tariff to corporate income tax cuts to boost the production and use of electric cars in the country.

BYD and Berkshire Hathaway

In 2008, Berkshire Hathaway bet on BYD’s potential, purchasing 225 million shares. It’s an investment that has paid off handsomely. Berkshire’s original investment of $230 million has grown in value almost ten-fold, and is now worth roughly $1.96 billion.

For More on BYD, read the Special Report: BYD, Berkshire’s Tesla.

© 2018 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.

Categories
Pilot Flying J

Pilot Flying J Expanding

(BRK.A), (BRK.B)

One of Berkshire Hathaway’s newest acquisitions, travel center company Pilot Flying J, is adding locations.

The company will be opening three new locations in Arizona, Florida and Texas.

The new Pilot Flying J store in Tucson, Arizona, will feature nine truck parking spots, a Subway restaurant, four diesel fuel lanes, and in a nod to the emergence of electric cars, 10 Tesla charging stations.

The new Bartow, Florida, location will feature 38 truck parking spots, six diesel fuel lanes, three showers, and an Arby’s restaurant.

And the Pilot Flying J that will open in Odessa, Texas, will be the largest of all. The location will feature 93 truck parking spots, eight diesel fuel lanes, seven showers, and a Dunkin’ Donuts Express.

“We’re thrilled to serve the communities of Bartow, Odessa and Tucson with the expansion of our network this month to deliver convenience, quality, great service and added value to local residents and professional drivers traveling the nation’s highways,” Ken Parent, president of Pilot Flying J, said.

Pilot Flying J gives truck drivers access to 72,000 parking spaces at 750 Pilot and Flying J Travel Centers across North America.

In October 2017, Berkshire Hathaway made a $2.76 billion investment for a minority share in Pilot Travel Centers with the goal of becoming the majority owner in five years.

© 2018 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.

Categories
Minority Stock Positions Stock Portfolio

BYD Plays Major Role in UK Energy Storage System

(BRK.A), (BRK.B)

BYD is in a lead role of supplying, operating and maintaining two energy storage systems for its key UK customer, Zenobé Energy Ltd. BYD supplied 49MW energy storage systems at Aylesford in Kent and Claredown in Essex to Zenobé.

“BYD’s focus on UK energy storage market started very early, around 4 years ago. We’ve so far contracted more than 350MW energy storage projects in this country alone, and are the No.1 battery storage system supplier in the UK.” said Bin Guo, BYD Energy Storage Global Director, “We think that the UK has a lot more potential and we will continue to provide first class support to visionary partners like Zenobé Energy to meet the growing demand of reliable and bankable energy storage solutions in the UK.”

The assets were utilized by National Grid’s Systems Operator (‘SO’) to supply 24MWh of energy within half an hour enabling the SO to move the frequency on the UK transmission system significantly.

Apart from being the largest energy storage owner and operator in the UK with 63MW of BYD batteries commissioned and operational, Zenobé is also the first owner-operator to raise senior debt on batteries from Santander Bank.

“The outstanding performance of this system proves that our decision of working closely with BYD is absolutely correct.” said Nicholas Beatty a Director and Founder of Zenobé Energy. “BYD was able to work with us and our other suppliers to deliver the system and commission the plants in record times of less than 6 months from signing of contracts.”

“Without doubt, the recent ASDP (Ancillary Services Dispatch Platform) dispatch of these assets by the SO demonstrates the speed of response of the batteries compared to traditional thermal generation equipment. It also evidences the flexibility batteries provide to the SO and other customers.” said Steven Meersman, a fellow Founder of Zenobé.

The UK SO has announced its plans to continue pushing the ASDP platform into the Short-Term Operational Reserve (STOR) market and replace the existing dispatch system with a “flexible, scalable and secure platform”. Over the next 5-10 years, the growing share of renewables will gradually increase the need for flexibility providers such as energy storage.

BYD has delivered nearly 150MW of energy storage projects in the UK to date. BYD’s 1.26MW/1.34MWh standard container energy storage products fit perfectly into the UK’s climate and power grid environment, along with the requirements for new energy power generation.

As the world leading energy storage solution provider, BYD is present in more than 200 cities around the world and was the number one global seller of new energy vehicles between 2015 and 2017.

BYD and Berkshire Hathaway

In 2008, Berkshire Hathaway bet on BYD’s potential, purchasing 225 million shares. It’s an investment that has paid off handsomely. Berkshire’s original investment of $230 million has grown in value almost ten-fold, and is now worth roughly $1.96 billion.

For More on BYD, read the Special Report: BYD, Berkshire’s Tesla.

© 2018 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.

Categories
Acquisitions Berkshire Hathaway HomeServices

Berkshire Hathaway HomeServices Florida Adds Charity & Weiss International Realty

(BRK.A), (BRK.B)

Berkshire Hathaway HomeServices Florida Realty has acquired Charity & Weiss International Realty, LLC, expanding into the Sarasota & Manatee Counties.

The expansion will allow the new company and affiliation to gain access to Berkshire Hathaway HomeServices’ Global Network Platform for lead generation, marketing support, video production and social media—along with access to listing distribution, relocation referrals, professional education and the Luxury Collection marketing program for high-end listings.

Charity & Weiss International Realty, LLC—founded in 2006 by Broker/Owners Gabriele Charity and Ruediger Weiss—specializes in international and domestic real estate, property management and commercial sales.

Charity and Weiss will stay on as team leaders of the group at Berkshire Hathaway HomeServices Florida Realty.

“Charity & Weiss and its sales professionals are perfect additions to our operations in the Sarasota/Manatee area,” said Rei L. Mesa, president and CEO of Berkshire Hathaway HomeServices Florida Realty, in a statement. “The firm is known for their strong leadership, exceptional customer service and a high level of professionalism. We’re proud to welcome Gabi, Rudi and their dedicated team to our Family of Services.”

“We are excited to have the professional and well-respected, multi-lingual Charity & Weiss team join our company and to continue their long-standing tradition of growth with exceptional service—now coupled with our brand, tools and global resources,” remarked Elaine Glandon, regional vice president of Berkshire Hathaway HomeServices Florida Realty.

“We view our network membership as an investment in our sales professionals,” said Charity. “These resources alone will help our sales professionals take their businesses and service to new heights. Ultimately, that’s great news for real estate consumers throughout the region.”

“Berkshire Hathaway HomeServices Florida Realty’s core values, active global expansion, vision and technology platform are an excellent match for our team. We believe that the Berkshire Hathaway HomeServices Florida Realty brand will resonate extremely well with our customers and sales professionals alike,” commented Weiss.
.
© 2018 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.