Berkshire Hathaway's RV maker, Forest River, will pay at least $5M for mishandling recalls

MarketsAssociated Press

Berkshire Hathaway's RV maker, Forest River, has agreed to pay at least $5 million and reform its practices because regulators say it mishandled two recalls.

The company based in Elkhart, Indiana, will pay up to $30 million in additional fines if regulators find any additional violations in the next three years. The federal Transportation Department announced the agreement with Forest River on Thursday.

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Forest River officials did not immediately respond to a phone message Thursday afternoon.

Regulators say Forest River was slow to report some required data and failed to swiftly launch two safety recalls after problems were found in nearly 1,000 of its camper trailers.

Forest River also agreed to hire an independent expert to audit its safety practices.

Forest River is owned by Warren Buffett's Omaha, Nebraska-based conglomerate.