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

First Posted: 10/13/10 11:23 AM ET Updated: 05/25/11 07:00 PM ET

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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.

Read the whole story: Bloomberg News

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Filed by Nicole Hardesty  |