Buffett: We've made Precision Castparts' most important asset even more valuable

Warren Buffett said on Saturday that Berkshire Hathaway has made Precision Castparts a much better company, only months after closing the books on its biggest transaction ever.

"I would say we've taken the most [valuable] part of the company and made it even more valuable to the company," Buffett said at Berkshire's annual shareholders meeting. He referred to Precision's management, specifically CEO Mark Donegan. "I would say Mark is one of a kind."

Buffett said Donegan can now spend more time working on designing and building aircraft parts, rather than breaking down earnings to shareholders and analysts.

"Precision Castparts will do better under Berkshire than it would on its own and it would do very well on its own," he said.

Berkshire announced the $37.2 billion acquisition in August.