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IMC Intl. Metalworking Companies
Type Private
Founded 1952
Founder(s) Stef Wertheimer
Headquarters Galilee, Israel
Key people Honorary Chair Stef Wertheimer

Chairman Eitan Wertheimer

President & CEO Jacob Harpaz
Industry Manufacturing
Website http://www.imc-companies.com

The IMC Group (IMC International Metalworking Companies or Iscar Metalworking) is one of the world's largest multinational conglomerates that produces high-tech metalworking products. It operates subsidiaries such as Iscar, TaeguTec, and Ingersoll in over 50 countries. In 1952, Stef Wertheimer started Iscar in his kitchen. After many years of constant expansion, Wertheimer moved the business from his kitchen to the Tefen Industrial Zone, one of four industrial parks he established in Israel. Today, Iscar has expanded from a single company in Israel to a multinational conglomerate with operations worldwide.

Berkshire Hathaway, chaired by Warren Buffett, acquired 80% of the IMC Group for US$5 billion in May 2006.[1] It was the largest corporate deal in Israel's history. Mr. Buffett personally attended the inauguration of a manufacturing plant in Dalian, China,[2] after which he flew to Daegu, Korea to visit TaeguTec, a major subsidiary of the IMC Group.[3]

Subsidiaries

External Links

References

  1. ^ Berkshire Hathaway Inc. - Iscar Ltd. Joint News Release; Berkshire Hathaway to Acquire Iscar Metalworking Companies
  2. ^ Buffett personally cuts ribbon at Iscar China - Haaretz - Israel News
  3. ^ Why Warren Buffett Likes "Boring" TaeguTec - CNBC
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