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{{Merge from|ITA - Iscar Tool Advisor|date=February 2011}}
{{Infobox company|
{{Infobox company|
|company_name=Iscar Metalworking
|company_name=Iscar Metalworking
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|homepage=[http://www.imc-companies.com/index.html http://www.imc-companies.com]
|homepage=[http://www.imc-companies.com/index.html http://www.imc-companies.com]
}}
}}
'''Iscar Metalworking''' is the largest company of [[International Metalworking Companies|IMC]] and one of the largest toolmaking companies in the world.{{Citation needed|date=February 2011}} 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 [http://www.open-museums.co.il/ Tefen Industrial Zone], situated in Israel's Western [[Galilee]].
'''Iscar Metalworking''' is an [[Israeli]] toolmaking company affiliated with the [[International Metalworking Companies|IMC]]. In 2006, [[Warren Buffet]] purchased an 80 percent stake in the company. It is one of [[Berkshire Hathaway]]'s largest non-insurance companies.<ref>[http://www.haaretz.com/business/warren-buffett-iscar-continues-to-amaze-1.414822 Warren Buffett: Iscar 'continues to amaze']</ref>
==History==
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 [http://www.open-museums.co.il/ 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.<ref>{{cite news | url=http://www.timesonline.co.uk/tol/news/world/middle_east/article1803568.ece | title=State of siege: Israel flourishes amid the bombs | accessdate=2007-05-21 | location=London | work=The Times | first=Gabriel | last=Rozenberg | date=2007-05-21}}</ref>
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.<ref>{{cite news | url=http://www.timesonline.co.uk/tol/news/world/middle_east/article1803568.ece | title=State of siege: Israel flourishes amid the bombs | accessdate=2007-05-21 | location=London | work=The Times | first=Gabriel | last=Rozenberg | date=2007-05-21}}</ref>


In May 2006, [[Berkshire Hathaway]], chaired by [[Warren Buffett]], purchased an 80% stake in Iscar for [[United States dollar|US$]]4 billion. It was the first time in Berkshire's long history that it acquired a company based outside of the United States.
In May 2006, [[Berkshire Hathaway]], chaired by [[Warren Buffett]], purchased an 80% stake in Iscar for [[United States dollar|US$]]4 billion. It was the first time in Berkshire's 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]].<ref>[http://www.haaretz.com/hasen/spages/916797.html Buffett personally cuts ribbon at Iscar China - Haaretz - Israel News<!-- Bot generated title -->]</ref>
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]].<ref>[http://www.haaretz.com/hasen/spages/916797.html Buffett personally cuts ribbon at Iscar China - Haaretz - Israel News<!-- Bot generated title -->]</ref>
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Iscar has production facilities in [[Israel]], [[France]], [[Argentina]], [[Germany]], [[Brazil]], [[Italy]], [[The United States of America]], [[Netherland]], [[Spain]], [[South Korea]], [[Switzerland]], [[Turkey]] and the [[United Kingdom]].<ref>{{citeweb | url=http://www.iscar.com/Section.asp/CountryID/1/SectionID/6/SectionFatherID/1 | title=iscar.com | accessdate=2008-04-08}}</ref>
Iscar has production facilities in [[Israel]], [[France]], [[Argentina]], [[Germany]], [[Brazil]], [[Italy]], [[The United States of America]], [[Netherland]], [[Spain]], [[South Korea]], [[Switzerland]], [[Turkey]] and the [[United Kingdom]].<ref>{{citeweb | url=http://www.iscar.com/Section.asp/CountryID/1/SectionID/6/SectionFatherID/1 | title=iscar.com | accessdate=2008-04-08}}</ref>


==See also==
*[[Economy of Israel]]
*[[Science and technology in Israel]]
⚫
==References==
⚫
{{reflist}}
== External links ==
== External links ==
* [http://www.iscar.com Iscar Cutting Tools]
* [http://www.iscar.com Iscar Cutting Tools]
* [http://www.businessweek.com/globalbiz/content/may2006/gb20060508_953503.htm Buffett Takes a Cut of Iscar/ By Neal Sandler] - from Businessweek online
* [http://www.businessweek.com/globalbiz/content/may2006/gb20060508_953503.htm Buffett Takes a Cut of Iscar/ By Neal Sandler] - from Businessweek online

⚫
==References==
⚫
{{reflist}}

{{Berkshire Hathaway}}
{{Berkshire Hathaway}}


Revision as of 07:52, 26 March 2012

Iscar Metalworking
Company typeSubsidiary
IndustryManufacturing
Founded1952
FounderStef Wertheimer
HeadquartersGalilee, Israel
Key people
Stef Wertheimer, Eitan Wertheimer, Jacob Harpaz
ParentIMC
Websitehttp://www.imc-companies.com

Iscar Metalworking is an Israeli toolmaking company affiliated with the IMC. In 2006, Warren Buffet purchased an 80 percent stake in the company. It is one of Berkshire Hathaway's largest non-insurance companies.[1]

History

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.[2]

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 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.[3]

The CEO of Iscar is Jacob Harpaz. The company has 140 subsidiaries in 65 countries.[4]

International Offices

Iscar has production facilities in Israel, France, Argentina, Germany, Brazil, Italy, The United States of America, Netherland, Spain, South Korea, Switzerland, Turkey and the United Kingdom.[5]

See also

References

  1. ^ Warren Buffett: Iscar 'continues to amaze'
  2. ^ Rozenberg, Gabriel (2007-05-21). "State of siege: Israel flourishes amid the bombs". The Times. London. Retrieved 2007-05-21.
  3. ^ Buffett personally cuts ribbon at Iscar China - Haaretz - Israel News
  4. ^ Who on earth is Jacob Harpaz, Haaretz, July 15, 2009
  5. ^ "iscar.com". Retrieved 2008-04-08.

External links

Retrieved from "https://en.wikipedia.org/w/index.php?title=ISCAR_Metalworking&oldid=483976591"