Berkshire Hathaway to acquire OxyChem

OxyChem is a global manufacturer of commodity chemicals vital to quality of life, with applications in water treatment, pharmaceuticals, healthcare, and commercial and residential development.

“This transaction strengthens our financial position and catalyses a significant resource opportunity we have been building in our oil and gas business for the last decade. I am proud of the impressive work the team has done to create this strategic opportunity that will unlock 20 plus years of low-cost resource runway and deliver meaningful near and long-term value,” said Vicki Hollub, President and CEO. “OxyChem has grown under Occidental into a well-run, safely operated business, and we are confident the business and those employees will continue to thrive under Berkshire Hathaway’s ownership.”

“Berkshire is acquiring a robust portfolio of operating assets, supported by an accomplished team,” said Greg Abel, Vice Chairman of Non-Insurance Operations at Berkshire. “We look forward to welcoming OxyChem as an operating subsidiary within Berkshire. We commend Vicki and the Occidental team for their commitment to Occidental’s long-term financial stability, as demonstrated by their plan to use proceeds to reinforce the company’s balance sheet.”

Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/03102025/berkshire-hathaway-inc-to-acquire-oxychem/