Cookson serves Buffett precious metals
Cookson, the materials science firm, has sold its American precious metals business to investment guru, Warren Buffett.
Cookson, the materials science firm, has sold its American precious metals business to investment guru, Warren Buffett.
The actual purchaser is Richline, an offshoot of Buffetts's Berkshire Hathaway vehicle.
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The gross assets of the businesses being acquired by Richline are about $69.8m (£44.4m) with Cookson's profitable European precious metals operation unaffected by the transaction.
The disposal has seen Cookson shares climb 5% in morning trading. Over the last 12 months, the stock is ahead by 7%.
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