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.
Buffett's acquisition was born in Galilee shed ; Buffett paid $4 billion for an 80% stake in Iscar Metalworking Co., one of Israel's largest companies
May 09, 2006; Israeli industrialist Stef Wertheimer couldn't even afford a lathe when he started his cutting tools company in 1952 in a...
Berkshire Hathaway Inc. and Iscar, Ltd. announced that Berkshire Hathaway has agreed to acquire 80 percent of the Iscar Metalworking Companies.
Jun 01, 2006; Berkshire Hathaway Inc. and Iscar, Ltd. announced that Berkshire Hathaway has agreed to acquire 80 percent of the Iscar...