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Iscar Metalworking is a toolmaking company based in Israel, founded by Stef Wertheimer.
The company was founded in 1952 in a wooden garage behind the home of Stef Wertheimer. 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.
An 80% stake of the company was purchased by Berkshire Hathaway in May 2006 for the price of US$4 billion in its first-ever acquisition outside the United States. Berkshire Hathaway is chaired by Warren Buffett. Production facilities are highly automated, enabling the plant to be run at night by one person at home on their computer.1
In 2008, Warren 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.2
International Offices
Iscar has production facilities in Israel, France, Argentina, Germany, Brazil, Italy, The United States of America, The Netherland, Spain, South Korea, Switzerland, Turkey and The United Kingdom.3
External links
- Iscar Cutting Tools
- Buffett Takes a Cut of Iscar/ By Neal Sandler - from Businessweek online
References
- ^ "State of siege: Israel flourishes amid the bombs". Retrieved on 2007-05-21.
- ^ Buffett personally cuts ribbon at Iscar China - Haaretz - Israel News
- ^ "iscar.com". Retrieved on 2008-04-08.
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Wikipedia content modification information:
- This page was last modified on 3 October 2008, at 14:45.
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