February 19, 2009
Company officials at Naperville-based Nalco Holding Co., a water treatment and processing equipment and services company, are feeling pretty good about themselves after learning this week that one of the world's most respected investors has purchased more than 5 percent of their company.
Nalco has announced that billionaire investor Warren Buffett and his company, Berkshire Hathaway, filed required reports with the Security and Exchange Commission of purchasing 8.7 million shares of the company by the end of last year.
Charlie Pajor, senior manager of external communications for Nalco, said the recent acquisition makes Berkshire among the top three shareholders in the company.
"We actually feel really good about the fact that one of the leading investors in the world has the confidence in Nalco and has decided to express this kind of confidence in us," Pajor said. "We realize Mr. Buffett is someone who knows what the 'numbers' are, and we're happy he has decided to invest in us."
Pajor said the company's top shareholder owns about 13 percent of the stock, making the recent Berkshire purchase "among the top three" of Nalco stock. The 8.7 million shares reflect the company's holdings in Nalco as of Dec. 31.
According to the Associated Press, the Berkshire company has been reshuffling its $69.89 billion portfolio by eliminating 33.1 million shares of Johnson & Johnson stock and also selling about 9 percent, or about 9.5 million shares of Procter & Gamble Company. Berkshire still holds at least 96.3 million shares of the Cincinnati company.
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