Warren Buffett and 3G Capital bought manufacturer Heinz ketchup for $ 28 billion

admin — Fri, 15 Feb 2013 14:16:48 +0000

Billionaire Warren Buffett and company 3G Capital bought Heinz ketchup manufacturer for $ 28 billion, the newspaper Financial Times says.

The transaction was approved by the Board of Directors of Heinz.

As said in the statement, the shareholders will receive $ 72.50 per share from the Buffett's company Berkshire Hathaway and 3G. This is 20% more than the value of shares at the close on Wednesday.

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Bodycote buys Curtiss-Wright heat treatment business

admin — Mon, 02 Apr 2012 08:41:49 +0000

(Reuters) - British engineering firm Bodycote said it bought Curtiss-Wright Corp's heat treatment business for $52 million (32.55 million pounds) to expand its customer base in the U.S. aerospace industry.

The deal, which was funded by Bodycote's existing cash and bank facilities, is expected to add to earnings in the first year, the company said.

Bodycote said the business comprised nine sites in northern and central parts of the United States, serving a wide range of industries, with a particular focus on commercial aerospace and oil and gas.

Factories around the world use heat treatment to improve the properties of metals and alloys, extending the life of machinery parts such as jet engine turbine blades, oil and gas equipment and car parts.

"Adding these nine sites to Bodycote's existing 35 U.S. plants provides significant additional capability and a broader customer base in key regions," Bodycote Chief Executive Stephen Harris said in a statement.

The company said Curtiss-Wright's heat treatment business had sales of $36.5 million in 2011.

The Macclesfield, Cheshire-based company's shares, which have gained 15 percent since it posted strong full-year results in February, were up 1.5 percent at 387.7 pence on Monday on the London Stock Exchange.

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Warren Buffett and 3G Capital bought manufacturer Heinz ketchup for $ 28 billion

Bodycote buys Curtiss-Wright heat treatment business