Warren Buffett's Company Fined, Factories Confiscated In Land Dispute

10/13/2010 10:23 am ET | Updated May 25, 2011
  • Bloomberg News

BYD Co., the Chinese carmaker part- owned by billionaire Warren Buffett's Berkshire Hathaway Inc., was fined and ordered to surrender seven factories after a dispute over land use in central China.

BYD received a 2.95 million yuan ($442,000) fine and will have the factories in Xi'an, Shaanxi confiscated, according to a statement posted today on the Ministry of Land and Resources website.

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