Oxychem President Wade Alleman [Photo: Wade Alleman/LinkedIn]

Berkshire Hathaway (NYSE: BRK-B) announced Friday that it has completed its acquisition of Dallas-based OxyChem—a leading producer of essential chemistry with operations in the U.S., Canada, and Latin America—in an all-cash deal for $9.7 billion.

OxyChem was formerly the chemicals business of Houston-based energy giant Occidental.The deal was first announced in October, and the 10-digital closing figure is subject to customary post-closing purchase price adjustments.

OxyChem will continue to be managed by its president and CEO, Wade Alleman, Berkshire Hathaway said.

OxyChem is a top three U.S. manufacturer of polyvinyl chloride, chlor-alkali and chlorinated organic chemicals, and calcium chloride. The company’s products play an essential role in everyday life, Berkshire Hathaway noted, “supporting critical applications in water treatment, pharmaceuticals, healthcare, manufacturing, automotive, personal hygiene, and residential and commercial construction.”

Omaha, Nebraska-based Berkshire Hathaway and its subsidiaries engage in a range of business activities including insurance and reinsurance, utilities and energy, freight rail transportation, manufacturing, retailing and services.

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R E A D   N E X T

  • Founded in 2021, the Irving-based water and wastewater solutions provider expanded through multiple acquisitions and new product lines.