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OxyChem joins Berkshire Hathaway

US financial holding acquires full control of the US PVC and chlor-alkali producer.

January 13, 2026 12:32

OxyChem plant Berkshire Hathaway, the financial holding led by Warren Buffett, has completed the acquisition of OxyChem, the chemical division of Occidental Petroleum, in a deal valued at $9.7 billion.

Headquartered in Dallas, Texas, OxyChem is among the top three U.S. producers of PVC, VCM, chlor-alkali products and chlorinated organic chemicals, with operations across the United States, Canada and Latin America.
Wade Alleman, the company’s current president and CEO, will remain in his role.

The acquisition further strengthens Berkshire Hathaway’s chemical portfolio, which already includes Lubrizol, acquired in 2011. Lubrizol is a leading manufacturer of additives, pigments and advanced materials, including thermoplastic polyurethanes (TPU).

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