Richline Group Acquires SAMJCO

Richline Group, Inc. today announced the completion of the acquisition of the assets in South Africa of South African Manufacturing Jewelers SAMJCO, aka Alan Mair Manufacturing Jewelers. The new company will operate as Richline SA (Pty) Ltd.

Richline SA is based in Germiston in the Gauteng Province, and is located in the Gold Zone at Rand Refinery. Richline SA is committed to deliver innovative jewellery manufacturing and design, a legacy left by SAMJCO. While Richline SA will continue to produce nine (9) carat gold as well as silver jewelry, it specializes in “bonded gold” a product that combines two precious metals, gold over silver, in a technologically sophisticated process. The firm intends to revitalize its focus on both the South African local market and also on exports into Africa and to other areas of the world. Richline SA is fully owned by Berkshire Hathaway‘s Richline Group, a global jewelry manufacturer. This will be the company’s sixth international jewelry brand acquisition and denotes the continued expansion of its worldwide, integrated corporate branding, manufacturing and distribution strategy.

Richline Group was formed in 2007 and includes a diverse group of jewelry brands specializing in metals, gemstones and design. The Richline Group is comprised of four strategic business units: LeachGarner Inc., Richline Brands, Richline International Inc. and Inverness Corporation.

About Richline Group

Richline Group, Inc. is a wholly-owned subsidiary of Berkshire Hathaway Inc., is the USA’s foremost Fine Jewelry Manufacturer and Marketer. Berkshire Hathaway, and its subsidiaries, engage in diverse business activities including property and casualty insurance, utilities and energy, finance, manufacturing, retailing and services. The Common Stock of the Company is listed on the New York Stock Exchange under the symbols BRK.A and BRK.B.

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Richline Group To Purchase US Cookson Material Products Group

Richline Group, Inc. has entered into an agreement whereby they will be purchasing the US Cookson Material Products Group.

Certain operating businesses for distribution and sales of Richline product in the UK, France, Hong Kong, Japan, and China are additionally part of the acquisition.

Dennis Ulrich, CEO of Richline, said, “This expansion demonstrates our continued commitment to the jewelry industry, as well as the importance we place on manufacturing, and the confidence we have in the talented group of employees living in the New England area.

“Our existing US manufacturing expertise, now combined with the long heritage and experience at Stern-Leach, Hallmark Sweet, Leach & Garner, General Findings, Inverness and Excel chain, provides us with talent and experience in manufacturing unprecedented in the USA”.

Joe Esposito, Executive Vice President of Manufacturing, says “Our strategy will be to manage the Manufacturing Group as a separate business committed to supplying the jewelry trade, along with other associated industries, with a high level of service and continued quality while supported with enhanced investments into the development of innovative products”

“The newly acquired businesses, will add substantial expertise and capabilities to our manufacturing group, while adding many new clients, both domestically and around the world”, said Dave Meleski President.

By consummating this transaction, the company has made a long term commitment to enhancing the mill and findings segments of the businesses.