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I'll first state that I don't really like the idea of General Electric Co. (NYSE: GE) selling its plastics division. I haven't liked it since I first saw it mentioned. I see too much potential there for GE to take advantage. In my mind, GE Plastics can provide significant cross benefits to its other divisions with the development of new materials. I've always viewed GE Plastics as it's defacto R&D department. Developing new materials figures into the forward progress of almost everything.

Be that as it may, it would seem that the plastics division shall be sold and there is solid interest in the acquisition from abroad. Last month, a firm in Saudi Arabia was reported to be considering a $12 billion offer for GE Plastics. $12 billion is about 20% more than what analysts are saying would be a good purchase price. That's not just sliced pickles buddy.

The question I'm addressing though, is would GE Plastics be a good acquisition for Warren Buffett? I haven't talked to the man so I don't have a solid picture of his criteria. I do know that at $12 billion, the purchase would fit comfortably within his stated budget, and again I say that I see tremendous potential within the division. I recently posted about the interesting developments taking place between GE Plastics and Hyundai (OTC: HYMLF) in regard to automobile manufacturing. There has also been some buzz about GE Plastics involvement with General Motors Corp.'s (NYSE: GM) new Chevrolet Volt . Perhaps GM should purchase the division? At the very least, GE plastics is an active entity and we haven't heard the last of it by far.

Perhaps Jeffrey Immelt and Warren Buffett should have lunch and discuss the possibilities. I'll see if I can arrange that... in my dreams!

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