Richline Group Acquires Nordt

Roanoke, VA and New York, NY – Richline Group, Inc. has the pleasure to announce the acquisition, effective June 1, 2016, of John C. Nordt, Inc. Joe Esposito, Richline’s EVP of Manufacturing said that “Nordt is another important and strategic addition to our brands. The firm’s unique and successful business model is a tribute to the leadership of the Nordt family. The synergies between Nordt and our LeachGarner and Nobilis business units will accelerate our growth into the PGM industrial markets. Nordt has a great product line, talented people and long term relationships with its clients”.

Joe White, President of LeachGarner, A Richline Group Company stated, “The combination of Nordt’s proprietary process technology and LeachGarner’s scale is unique in the precious metal industry. We look forward to integrating our businesses to deliver enhanced value to our existing customer base and leveraging our new synergies outside our traditional channels.”

Five generations of the Nordt family have led the firm over 140 years. Paul Nordt III, Rob Nordt, Sr. and Rob Nordt, Jr. will continue to lead the company along with a highly experienced professional management team. Paul Nordt stated “Richline’s strength will enhance the core corporate capability brought to our customers including our unique and proprietary processes for precious metals. We have long been proud of the creation of products of extreme precision and adaptability for the jewelry industry.”

ABOUT JOHN C. NORDT:

John C. Nordt is an ISO 9001:2008 certified company and a leading manufacturer and supplier of precious metal products to the jewelry industry. Founded in 1872 in New York City, Nordt has operated in Roanoke Virginia since 1984.

ABOUT RICHLINE GROUP, INC.:

Richline Group, Inc., a wholly-owned subsidiary of Berkshire Hathaway Inc., is the USA’s foremost Fine Jewelry Manufacturer and Marketer. Richline Group was formed in 2007. Currently the major brands comprising Richline’s portfolio are LeachGarner, Inverness, Rio Grande and Richline Jewelry. 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 Berkshire Hathaway is listed on the New York Stock Exchange under the symbols BRK.A and BRK.B.

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Richline Group Working With Key Industry Groups To Push for Updated Made in the USA Guidelines

From the June 18th, 2014 joint statement to the FTC for Guidance on “Made in the USA” Claims:

On June 17, 2014, four trade associations, along with the Richline Group, asked the Federal Trade Commission (FTC) for an advisory opinion stating that jewelry composed of metals recycled in this country could be advertised as “Made in the USA.” The four associations are the Jewelers Vigilance Committee, the Manufacturing Jewelers and Suppliers of America, Jewelers of America and the American Gem Trade Association.

[…]

The request for an advisory opinion was based on the fact that significant time and resources go into collecting recyclable material, delivering it to refiners in the United States, and then processing the items to a purity level of almost 100%. The associations and Richline argued that upon recycling, metal begins a new life cycle, with a new origin in this country – regardless of where it was originally mined. For this reason, according to the request, products composed of metals recycled in this country should qualify for a “Made in the USA” claim. If the request is granted by the FTC, sellers would be able to make the claim – as long as they could substantiate that the metal was recycled at a domestic refinery.

Richline Group is proud to work alongside the JVC, MJSA, JA and AGTA in this attempt to drive the first meaningful change to the “Made in America” guidelines since they were last revised by the FTC in 1997.

It has long been our belief that the current guidelines make it impossible for well-meaning companies to properly market jewelry that has been wholly created here in America. We will continue to work closely with both industry organizations and the FTC to discover viable ways for American refiners and manufacturers – such as our own LeachGarner division – to properly and legally denote jewelry as “Made in the USA” while continuing to protect the rights of consumers everywhere.

Click here to read and download the full press release from the JVC