| Type | Subsidiary |
|---|---|
| Industry | Manufacturing |
| Founded | 1952 |
| Founder(s) | Stef Wertheimer |
| Headquarters | Galilee, Israel |
| Key people | Stef Wertheimer, Eitan Wertheimer, Jacob Harpaz |
| Parent | IMC |
| Website | http://www.imc-companies.com |
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.[1]
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.[2]
The CEO of Iscar is Jacob Harpaz. The company has 140 subsidiaries in 65 countries.[3]
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.[4]