ISCAR Metalworking
Encyclopedia
Iscar Metalworking is the largest company of IMC
and one of the largest toolmaking companies in the world. The company was founded in 1952 in a wooden garage behind the home of Stef Wertheimer
in Israel
. After several years of steady expansion, the company headquarters moved to its current site in the Tefen Industrial Zone, situated in Israel's Western Galilee
.
Iscar has expanded from a single marketing and manufacturing facility in Israel to a multinational company with representation in over 50 countries. Its production facilities are highly automated; at night, a single employee runs the plants on a computer, from home.
In May 2006, Berkshire Hathaway
, chaired by Warren Buffett
, purchased an 80% stake in Iscar for US$
4 billion. It was the first time in Berkshire's long history that it acquired a company based outside of the United States.
In 2008, Mr. Buffett called the acquisition of Iscar a "dream deal" that surpassed all his expectations. He personally attended the inauguration of a new production plant in Dalian
, China
.
The CEO of Iscar is Jacob Harpaz. The company has 140 subsidiaries in 65 countries.
, France
, Argentina
, Germany
, Brazil
, Italy
, The United States of America, Netherland
, Spain
, South Korea
, Switzerland
, Turkey
and the United Kingdom
.
International Metalworking Companies
IMC International Metalworking Companies B.V. is one of the world's largest holding companies for metalworking products. As part of Berkshire Hathaway, IMC operates Iscar, TaeguTec, Tungaloy, Ingersoll and more in over 50 countries. IMC member companies have secured management control over...
and one of the largest toolmaking companies in the world. The company was founded in 1952 in a wooden garage behind the home of Stef Wertheimer
Stef Wertheimer
Stef Wertheimer is a German-born Israeli entrepreneur and industrialist, a former Member of the Knesset, and is well known for founding industrial parks in Israel and neighboring countries.-Early life:Wertheimer was born in Kippenheim, Germany...
in Israel
Israel
The State of Israel is a parliamentary republic located in the Middle East, along the eastern shore of the Mediterranean Sea...
. After several years of steady expansion, the company headquarters moved to its current site in the Tefen Industrial Zone, situated in Israel's Western Galilee
Galilee
Galilee , is a large region in northern Israel which overlaps with much of the administrative North District of the country. Traditionally divided into Upper Galilee , Lower Galilee , and Western Galilee , extending from Dan to the north, at the base of Mount Hermon, along Mount Lebanon to the...
.
Iscar has expanded from a single marketing and manufacturing facility in Israel to a multinational company with representation in over 50 countries. Its production facilities are highly automated; at night, a single employee runs the plants on a computer, from home.
In May 2006, Berkshire Hathaway
Berkshire Hathaway
Berkshire Hathaway Inc. is an American multinational conglomerate holding company headquartered in Omaha, Nebraska, United States, that oversees and manages a number of subsidiary companies. The company averaged an annual growth in book value of 20.3% to its shareholders for the last 44 years,...
, chaired by Warren Buffett
Warren Buffett
Warren Edward Buffett is an American business magnate, investor, and philanthropist. He is widely regarded as one of the most successful investors in the world. Often introduced as "legendary investor, Warren Buffett", he is the primary shareholder, chairman and CEO of Berkshire Hathaway. He is...
, purchased an 80% stake in Iscar for US$
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....
4 billion. It was the first time in Berkshire's long history that it acquired a company based outside of the United States.
In 2008, Mr. Buffett called the acquisition of Iscar a "dream deal" that surpassed all his expectations. He personally attended the inauguration of a new production plant in Dalian
Dalian
Dalian is a major city and seaport in the south of Liaoning province, Northeast China. It faces Shandong to the south, the Yellow Sea to the east and the Bohai Sea to the west and south. Holding sub-provincial administrative status, Dalian is the southernmost city of Northeast China and China's...
, China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
.
The CEO of Iscar is Jacob Harpaz. The company has 140 subsidiaries in 65 countries.
International Offices
Iscar has production facilities in IsraelIsrael
The State of Israel is a parliamentary republic located in the Middle East, along the eastern shore of the Mediterranean Sea...
, France
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
, Argentina
Argentina
Argentina , officially the Argentine Republic , is the second largest country in South America by land area, after Brazil. It is constituted as a federation of 23 provinces and an autonomous city, Buenos Aires...
, Germany
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
, Brazil
Brazil
Brazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...
, Italy
Italy
Italy , officially the Italian Republic languages]] under the European Charter for Regional or Minority Languages. In each of these, Italy's official name is as follows:;;;;;;;;), is a unitary parliamentary republic in South-Central Europe. To the north it borders France, Switzerland, Austria and...
, The United States of America, Netherland
Netherland
Netherland is a critically acclaimed novel by Joseph O'Neill. It concerns the life of a Dutchman living in New York in the wake of the September 11 attacks who takes up cricket and starts playing at the Staten Island Cricket Club.-Plot summary:...
, Spain
Spain
Spain , officially the Kingdom of Spain languages]] under the European Charter for Regional or Minority Languages. In each of these, Spain's official name is as follows:;;;;;;), is a country and member state of the European Union located in southwestern Europe on the Iberian Peninsula...
, South Korea
South Korea
The Republic of Korea , , is a sovereign state in East Asia, located on the southern portion of the Korean Peninsula. It is neighbored by the People's Republic of China to the west, Japan to the east, North Korea to the north, and the East China Sea and Republic of China to the south...
, Switzerland
Switzerland
Switzerland name of one of the Swiss cantons. ; ; ; or ), in its full name the Swiss Confederation , is a federal republic consisting of 26 cantons, with Bern as the seat of the federal authorities. The country is situated in Western Europe,Or Central Europe depending on the definition....
, Turkey
Turkey
Turkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe...
and the United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
.
External links
- Iscar Cutting Tools
- Buffett Takes a Cut of Iscar/ By Neal Sandler - from Businessweek online