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When the Oracle of Omaha, Warren Bufffet of Mitek throws his financial pedigree behind a modular building startup, it’s time to book your ticket for the train ride.
With a single Berkshire Hathaway share now worth US$431,421.70, we’re left in no doubt that the almost religious zeal that Warren Bufffet’s followers commit to his every move will follow him down the path to prefabrication with MiTek.
MiTek Inc., a Missouri-based construction-technology company owned by Warren Buffet’s Berkshire Hathaway is launching a new modular building venture with New York City-based architect Danny Forster & Architecture. The stated ambition is bring automotive efficiency and quality to the building industry, and based on Berkshire Hathaway’s track record it’s very likely they will succeed.
The company plans to build entire rooms for hotels and apartment buildings in factories, and then send them to a construction site to be stacked on top of each other.
By way of background, MiTek has more than 6,000 employees and sells building components, construction software (already catering to the prefabrication market) and engineering services.
The company said it is investing tens of millions of dollars in the modular building venture, and plans to start working on its first projects early next year.
See: dannyforster.com
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