TIMMONSVILLE, SC — Berkshire-Hathaway, a conglomerate holding company headquartered in Omaha, NE, will purchase 60 percent of Marmon Holdings, parent company of Perfection Clutch, a supplier of new clutch sets, new flywheels and ZOOM performance products to the U.S. aftermarket. Perfection Clutch is one of the 125 companies held by Marmon Holdings, Inc.

The closing is anticipated to occur in the first quarter of 2008. The remaining 40 percent will be acquired through staged acquisitions over a five to six year period for consideration to be based on the future earnings of Marmon. The transaction remains subject to customary closing conditions, including regulatory approvals.

Perfection said there will be “no visible changes” to the way the company conducts business.

“This is a transaction that works for all stakeholders,” said John Nichols, former Marmon CEO. “It will allow Marmon to thrive under its existing management team and continue implementing our management philosophy. While we have a new shareholder, it is clear that Berkshire Hathaway shares the values and approach established by the Pritzkers over many decades.”

Berkshire-Hathaway Chairman and CEO Warren Buffett noted: “Our transaction was done just the way Jay (Pritzker) would have liked it to be done – no consultants or studies. After meeting with Messrs. Ptak and Nichols, they were just what I expected from Marmon’s impressive record of growth and profitability over the years, and the decision to purchase and work out the details of this transaction was done without delay. I am pleased that over the next five to six years, we will be partnering and working with Tom Pritzker, John Nichols and Frank Ptak in continuing to build Marmon.”