Categories
Acquisitions

Marmon Holdings Acquires AP Emissions Technologies

(BRK.A), (BRK.B)

Berkshire Hathaway’s Marmon Holdings Inc. has acquired AP Emissions Technologies, a leading innovator of emissions control products serving the North American automotive aftermarket. The company is one of the largest tubing manufacturers in the U.S., producing 6,000 miles of tubing per year.

The acquisition was effective Jan. 1, 2023.

Founded in 1927 and headquartered in Goldsboro, North Carolina, AP Emissions Technologies is a vertically integrated manufacturing operation with plants in Hobart, Indiana, and Langhorne, Pennsylvania.

In total, the company employs more than 750 people.

“Marmon was the right buyer for our employees, our customers and our suppliers to take AP to the next level and carry on the company mission,” noted previous owner Vange Proimos. “AP and Marmon have the same principles: investing in its most valuable asset, its people, while remaining focused on developing category leading innovations for the customer.”

The AP management team will continue to lead the business under the leadership of Rich Biel, president and longtime Marmon executive. “I am excited to work with Gary Nix and the whole AP team as we begin this new chapter of an outstanding company,” Biel said. “As part of Marmon, AP will accelerate investments in innovation and automation to make our products even better and grow in value to our customers.”

© 2023 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 a 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
Marmon Group

Marmon Industrial Energy & Infrastructure Joins Forces With Concora to Streamline the Specification Process

(BRK.A), (BRK.B)

Marmon Industrial Energy & Infrastructure and Concora have created a new partnership to provide a digital experience transforming the way designers and engineers source and specify Marmon IEI’s products.

Concora Spec is powering Marmon IEI’s new website, www.marmoniei.com, which integrates six of its brands (RSCC, Comtran, Kerite Pump Cable, Harbor Industries Canada, Dekoron Wire & Cable and Dekoron Unitherm) into one central platform. This online product experience, found on the Technical Resources tab, will make it easier for specifiers and design engineers to access and specify Marmon IEI’s scope of products and services. Concora Spec provides a centralized content platform and helpful tools, such as product categories, spec compare, and submittals, to enhance the user experience (UX) for AECs.

“We are honored to partner with Marmon IEI and help them improve engagement with designers and engineers by improving their online user experience and access to Marmon IEI’s comprehensive range of products.” -Eric Snyder, CEO of Concora

“In addition to the ease of use and time savings for designers/specifiers, Concora Spec also empowers Marmon IEI’s sales and marketing teams with access to up-to-date analytics and actionable steps that enhance our customer’s journey.” – Crysta Abell, Marketing Manager for Marmon IEI

Berkshire Hathaway’s Marmon Holdings comprises 11 major business groups that vary from medical care, food services to heavy industry, transportation, construction and more. These groups share expertise, knowledge, and resources with and within each other with a singular focus: the customer. With Marmon’s backing, Marmon Electrical was derived to support energy exploration and production with specialized wire and cable. Within Marmon Electrical, the development of what is now called Marmon Industrial Energy & Infrastructure, uniting 6 various entities known for their high-performance wire, cable and tubing products installed all over the world in some of the harshest environments.

© 2023 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 a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future performance.

Categories
Lessons From Warren Buffett

Lessons From Warren Buffett: The Two Key Questions to Ask Yourself Before Investing

Before getting into any investment, there are two key questions Warren Buffett always asks himself.

“The first question is, can I understand it? And unless it’s going to be in a business that I think I can understand, there’s no sense looking at it,” Buffett said at the 1995 Berkshire Hathaway annual meeting. “There’s no sense kidding myself into thinking that I’m going to understand some software company, or some biotech company, or something of the sort. What the hell am I going to know about it? So, that’s the first threshold question. And then the second question is does it look like it has good economics? Has it earned high returns on capital?”

Hear Buffett’s full explanation

See the complete Lessons From Warren Buffett series

© 2023 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 Announces New Leadership Team

(BRK.A), (BRK.B)

Berkshire Hathaway’s The Lubrizol Corporation has announced the appointment of a new Lubrizol Executive Leadership Team. These experienced business leaders will continue to support the organization’s world-class talent and committed customers, advancing breakthrough chemistry that helps the world Move Cleaner, Create Smarter and Live Better.

“For more than 90 years, Lubrizol science has solved complex challenges and advanced new opportunities across a variety of industries,” said Lubrizol President and CEO Rebecca Liebert. “We’re pairing that history of innovation with strong leadership, drawn from inside and outside our organization, to propel our Lubrizol people, customers, technology and enterprise operations to our next 100 years of growth.”

In addition to oversight by President and CEO Rebecca Liebert, Lubrizol will be led by these proven executive leaders:

Julie Edgar, Senior VP and Chief Technology Officer
Julie Edgar brings more than 25 years of Lubrizol technology and commercial management positions across Asia, Europe and North America to the role of Senior Vice President and Chief Technology Officer, focused on overseeing the company’s technology teams globally. Julie most recently served as Vice President, LZA Transportation, and brings a deep understanding of our chemistry, products and sustainable solutions, having previously served as Lubrizol’s first Chief Sustainability Officer.

Jose Gonzalez-Magaz, Senior VP and Chief Legal Officer
Effective March 1, 2023, Jose Gonzalez-Magaz will join the organization as Senior Vice President and Chief Legal Officer. Jose brings nearly 30 years of experience as a transformative business partner, including expanding commercial opportunities, protecting against and minimizing risk, leading organic and M&A growth, and optimizing the performance of legal teams for global organizations. Jose was most recently with Marmon Holdings, Inc., a Berkshire Hathaway company.

Jeff Lauderdale will serve as Lubrizol’s interim Chief Legal Officer until Jose’s arrival, bringing more than 20 years of legal experience to the role, including a variety of legal leadership positions within Lubrizol.

Shuja Ishrat, Senior VP and Chief Information Officer
Shuja Ishrat was appointed as Senior Vice President and Chief Information Officer. Shuja has nearly 30 years of experience with global business systems development and transformation. He is a hands-on leader and strategic technology executive with a proven history of operational excellence while transforming IT organizations into high-performing teams aligned to business goals. He was most recently with Jabil, a solutions company providing advanced manufacturing and technology services.

James “JT” Jones, Senior VP of Procurement and High-Growth Regions, Chief Procurement Officer
JT Jones will assume the role of Senior VP of Procurement and High-Growth Regions and Chief Procurement Officer. JT has significant international experience and more than 20 years of business development, strategy, procurement, operations, financial, senior sales management and P&L leadership experience at preeminent international consulting and Fortune 500 chemical and coatings companies, most recently at PPG Industries.

Flavio Kliger, Senior VP and President of Lubrizol Additives
Flavio Kliger was appointed as Senior Vice President and President of Lubrizol Additives. Since joining Lubrizol in 2017, he served as Senior Director for the company’s Industry Formulated Fluids & Greases business. Prior to Lubrizol, Flavio spent more than 20 years at The Dow Chemical Company, where his career spanned increasing responsibility in multiple commercial and general management roles in three countries, touching all range of product, from basic chemicals to specialty chemicals, in multiple-end user industries.

Trina Nally, Senior VP and Chief Human Resources Officer
Trina Nally was appointed as Senior Vice President and Chief Human Resources Officer. With 30 years of human resources experience, Trina is a strategic and results-oriented people and culture leader. She has a track record of aligning company strategy, structure, culture, capabilities, and rewards to build high-performing organizations. Most recently she served as Senior Vice President, People & Culture for BP’s Customers & Products business, the company’s largest customer-facing business unit with 27,000 employees across more than 50 countries.

Arnau Pano, Senior VP and President of Lubrizol Advanced Materials
Arnau Pano was appointed as Senior Vice President and President of Lubrizol Advanced Materials (LZAM). Arnau was previously Vice President, Engineered Polymers and LZAM South Asia, where he led the Engineered Polymers division, in addition to overseeing LZAM’s South Asia region. He has been with Lubrizol for more than a decade, following Lubrizol’s acquisition of Merquinsa where Arnau served as CEO. Arnau also spent more than 15 years with General Electric where he held diverse business management positions.

Eduardo Pedreira, VP, Supply Chain
Eduardo Pedreira was appointed Vice President of Supply Chain, leading the team in strategic supply planning, production scheduling, customer service and business partnerships. Eduardo has an accomplished history as a transformational supply chain and operations leader with more than 17 years of experience at PPG Industries. At PPG, Eduardo served as Global Resin Business Director, where he led the PPG vertical integration on the resin portfolio, managing the overall strategy including operations, supply chain, procurement, capital investment and technical development.

LG Tackett, Senior VP, Operations
LG Tackett was named Senior Vice President of Operations, responsible for the safe and efficient operations of the company’s 55 manufacturing facilities in 17 countries around the world. An industry veteran of 30 years, LG’s extensive global leadership is rooted in safety, process safety, operations, reliability, supply chain, and engineering. He was most recently Vice President of Global Operations for PPG Industries Industrial Segment.

Davies Walker, Senior VP and Chief Financial Officer
Davies Walker was appointed Senior Vice President, Chief Financial Officer and Treasurer. With more than 20 years of finance and business management experience, Davies has a proven record of leading multi-billion-dollar global manufacturing businesses to financial growth and profitability. Most recently, he served as Vice President and CFO for Honeywell Process Solutions.

These leaders will be supported by more than 8,000 talented Lubrizol employees serving customers across the world.

© 2023 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 a 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 and iXora Partnership Provides State-of-the-art Immersion Cooling Systems in Data Centers

(BRK.A), (BRK.B)

Berkshire Hathaway’s The Lubrizol Corporation has announced a partnership with Netherlands-based iXora BV, the leader in rack mountable immersive cooling.

Data centers are primarily cooled by inefficient, expensive air conditioners that consume unnecessary energy. Lubrizol’s immersion cooling ecosystem, using CompuZol immersion fluids, addresses the limitations posed by air-cooled methods by delivering turn-key, sustainable solutions that enable superior thermal management and more infrastructure density.

iXora BV, the leader in rack mountable immersive cooling, has become a certified partner of this ecosystem, coupling its innovative closed cassette server housing solution exclusively using Lubrizol’s CompuZol immersion fluids to deliver a unique and versatile cooling system to the marketplace.

After recent announcements regarding partnerships with other key industry stakeholders in the chip manufacturing, digital infrastructure, and service and support markets, Lubrizol’s partnership with iXora provides another critical piece to its ecosystem solution in the fast-growing market of immersive cooling. iXora’s unique modular architecture used in combination with CompuZol immersion cooling fluids, protects customers’ enterprise infrastructure investments and simplifies serviceability, easing key barriers to market adoption.

“We are excited by our common vision for immersion cooling and how engineering excellence and innovation can achieve those ambitions,” said Job Witteman, CEO and cofounder of iXora. “iXora’s rack mountable, silent immersive cooling solution per individual server, is a well-suited partner for Lubrizol’s industry leading immersion cooled ecosystem solution. Fully compatible with industry-standard 19” racks, it will allow data centers to migrate to immersion cooling without having to change existing workflows and infrastructure.

“And, when paired with Lubrizol’s CompuZol immersion fluids, it will provide the market with a powerful solution to maximize data center power efficiency while minimizing data center and carbon footprints.”

“Lubrizol’s immersion cooled ecosystem solution delivers advantages to today’s data center operators ranging from lower energy costs and higher computing densities to longer server life, all through a more sustainable solution than conventional air cooling,” said Matt Joyce, Vice President, Corporate Business Development for Lubrizol. “Our partnership with iXora adds a unique immersive cooling solution to our ecosystem, enabling the market to accelerate the adoption of game-changing immersion technology using today’s infrastructure.”

© 2023 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 a 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

BYD Brings Cloud Game Streaming to Its EVs With NVIDIA GeForce NOW

(BRK.A), (BRK.B)

Berkshire Hathaway-backed BYD is working with NVIDIA to bring NVIDIA GeForce NOW cloud game streaming to its vehicles.

BYD demonstrated how technological innovation is enhancing the automotive smart cockpit and bringing users an immersive gaming experience during NVIDIA’s CES 2023 special address.

NVIDIA GeForce NOW can stream a real-time, full PC gaming experience to desktops, laptops, TVs, and mobile devices, and now to software-defined cars. GeForce NOW will enable occupants of these vehicles to stream games while parked or charging a NEV.

“We are excited to offer our customers the best in technology, comfort, and design from BYD and now the latest in gaming through NVIDIA’s GeForce NOW high-performance cloud gaming service. The experience of driving our cars is becoming increasingly sophisticated, entertaining, and sustainable”, said Stella Li, Executive Vice President of BYD Company Limited and CEO of BYD Americas.

© 2023 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway and BYD, and this article is not a recommendation on whether to buy or sell a 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
Lessons From Warren Buffett

Lessons From Warren Buffett: In the Short Run the Market Is a Voting Machine, in the Long Run a Weighing Machine

Stock prices can become disassociated from the underlying value of companies, especially in times when extreme speculation grips the market, but in the long run they more closely align. It is something that Benjamin Graham noted years ago in The Intelligent Investor, and Warren Buffett firmly agrees.

“Ben Graham was right when he said that in the short run it’s a voting machine, and the long run it’s a weighing machine,” Buffett said at the 2000 Berkshire Hathaway annual meeting. “Sooner or later, the amount of cash that a business can disgorge in the future governs the value it has, that the stock commands in the market. But it can take a long time.”

Hear Buffett’s full explanation

See the complete Lessons From Warren Buffett series

© 2022 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 Specialty Insurance

Berkshire Hathaway Specialty Insurance Announces New Leadership Roles in UK Executive & Professional Lines Business

(BRK.A), (BRK.B)

Berkshire Hathaway Specialty Insurance (BHSI) has announced the following leadership appointments in its UK Executive & Professional Lines business: Jess Kirby has been named Head of Executive & Professional Lines, responsible for the management and leadership of BHSI’s Commercial Management Liability, Financial Institutions and Professional Indemnity businesses. Jess is stepping into the role previously occupied by Chris Warrior who will focus on driving technical underwriting excellence across each of BHSI’s Executive & Professional Lines segments. Additionally, Tom Harris has been named Head of Commercial Management Liability, replacing Jess Kirby.

“BHSI moves into 2023 with exceptionally strong momentum in our Executive & Professional Lines business,” said Chris Colahan, Head of BHSI UK and Europe. “We look forward to continuing to provide customers and brokers with much-needed solutions that come with BHSI’s financial stability, service excellence and CLAIMS IS OUR PRODUCT philosophy.”

Jess was previously Head of Commercial Management Liability, UK. She joined BHSI in 2018 as Senior Underwriter, Commercial D&O. With 15 years in the industry, she has held a variety of increasingly senior-level positions in the Executive & Professional Lines Business. Chris Warrior joined BHSI in 2019 as Head of Management Liability, UK. Chris has 40 years of insurance experience and will be driving continued technical development across Executive and Professional Lines.

Tom Harris joined BHSI in 2021 as Senior Underwriter, Commercial Management Liability. During his 15-year career, Tom has held a variety of increasingly senior financial lines-focused positions with both insurers and brokers.

Rounding out BHSI’s UK Executive & Professional Lines leadership team are Janine McGriskin, Head of Financial Lines, Dave Harries, Executive Underwriter and Maeve Kelleher, Head of Claims.

© 2023 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 a 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
BNSF

Clean Hydrogen Developer Bakken Energy Announces Alliance With BNSF

(BRK.A), (BRK.B)

Bakken Energy, an innovative developer of affordable clean hydrogen, has signed a Memorandum of Understanding with BNSF Railway to work together on the design of the Heartland Hydrogen Hub, specifically the role of railways as consumers and transporters of clean hydrogen.

“We see our work with Bakken Energy and the Heartland Hydrogen Hub as part of our commitment to a more sustainable energy and transportation system, including exploring the role railways can play in a hydrogen economy” said John Lovenburg, VP of Environment and Sustainability at BNSF.

In collaboration with the States of North Dakota, Minnesota, Wisconsin and Montana, Bakken Energy is working on the design of the Heartland Hydrogen Hub, a regional clean hydrogen hub competing to obtain federal funding through the Department of Energy’s $7 billion Regional Clean Hydrogen Hubs program announced on September 22, 2022 as part of the larger $8 billion hydrogen hub program funded through the Bipartisan Infrastructure Law.

The foundation of the industry-led Hub is Bakken Energy’s large scale affordable clean hydrogen production using natural gas that would otherwise be flared, including carbon capture and sequestration.

“It is a privilege to be partnered with BNSF” said Bakken Energy Founder and Chairman Steve Lebow. “Railways could play a critical role in distributing our clean hydrogen production, and could also be consumers as trains transition from diesel. BNSF is the ideal partner to work out the role of railways in our Heartland Hydrogen Hub.”

“For Bakken Energy, and our Heartland Hydrogen Hub, it is all about making clean hydrogen abundant and affordable” said Bakken Energy CEO Mike Hopkins. “Part of the equation is production, but the other part is distribution and that’s where BNSF will be invaluable. Being able to transport our hydrogen by rail would dramatically reduce our distribution costs and therefore the cost to consumers.”

© 2023 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 a 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 Energy

Berkshire Hathaway’s NV Energy Selects Energy Vault for 440 MWh Energy Storage System in Nevada

(BRK.A), (BRK.B)

Berkshire Hathaway’s Nevada utility, NV Energy, has chosen Energy Vault Holdings, Inc., a leader in sustainable grid-scale energy storage solutions, to provide a 440 MWh Energy Storage System.

The Battery Energy Storage System (BESS), will be one of the largest in Nevada and is expected to start construction in Q2 2023 with commercial operation expected by the end of 2023.

The 220MW/440MWh grid-tied BESS will be deployed at a site located near Las Vegas. The 2-hour energy storage system is designed to store and dispatch excess renewable energy, including wind and solar power.

The BESS will be charged and discharged on a daily basis and designed to dispatch stored renewable energy at peak consumption hours to help meet the high demand during Nevada’s peak load hours.

“Energy Vault is pleased to be selected by NV Energy for a mission critical project supporting Nevada’s largest electric provider in achieving its goal of net zero emissions by 2050,” said Marco Terruzzin, Chief Commercial and Product Officer, Energy Vault. “This is Energy Vault’s first public utility customer for our short duration energy storage solutions, which furthers our strategy to be the energy storage company of choice for utilities, IPPs and large energy users. We look forward to beginning our relationship with NV Energy to help them meet their IRP needs for both short and long duration energy storage.”

© 2022 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 a 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.