Berkshire Unit Buying German Pipe Company: Report

A unit of Warren Buffett's Berkshire Hathaway Inc. is buying a German maker of pipe components, Willhelm Schulz GmBH, according to a report in the Handelsbatt newspaper on Monday. In a comment to the newspaper, Mark Donegan, the chief executive officer of Berkshire's Precision Castparts, said the company doesn't comment on individual transactions, "but PCC has negotiated an agreement to take over the Schulz Group." There was no immediate response from an email inquiry to Precision Castparts and a spokesperson from Willhelm Schulz could not immediately be reached for comment.