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International Metalworking Companies

 

International Metalworking Companies

IMC
Type Private
Industry Manufacturing
Founded 1952
Founders Stef Wertheimer
Headquarters Galilee, Israel
Key people

Eitan Wertheimer, Chairman

Jacob Harpaz, President
Employees 10,000+
Parent Berkshire Hathaway
Website http://www.imc-companies.com

IMC International Metalworking Companies B.V. (Iscar Metalworking Cos. or the IMC group of companies) is one of the world's largest companies for metalworking products. As part of Berkshire Hathaway, IMC operates Iscar, TaeguTec, Tungaloy, Ingersoll and more in over 50 countries. IMC member companies have secured management control over themselves. Today, IMC has 140 subsidiaries in 65 countries.[1]

Contents

  • Berkshire Hathaway family 1
  • IMC member companies 2
  • External links 3
  • References 4

Berkshire Hathaway family

Warren Buffett's Berkshire Hathaway acquired 80% of IMC for US$4 billion in May 2006,[2] which became the largest corporate deal ever in Israel's history. Mr Buffett personally attended the inauguration of a manufacturing plant in Dalian, China,[3] after which he flew to Taegu, Korea to visit TaeguTec, the largest cutting tool supplier in the Far East and one of the largest companies within IMC.[4] His plan to visit Tungaloy Corporation in Japan was first postponed due to a tsunami. But Mr. Warren Buffett, chairman and CEO of Berkshire Hathaway, and Mr. Eitan Wertheimer, chairman of IMC group, attended the completion ceremony of the new Tungaloy plant in November 2011.[5] In May 2013 Berkshire Hathaway acquired the rest of IMC for $2.05 billion. [6]

IMC member companies

  • CTMS
  • Ingersoll
  • ISCAR
  • Shafir Production Systems
  • Matrix-Cabinet
  • IT.TE.DI
  • Kidan
  • MasteRound
  • M├ętaldur
  • Microtools
  • Outiltec
  • TaeguTec
  • Tungaloy
  • Unitac Inc.
  • UOP S.p.A.
  • Wertec
  • Zurim Tools

External links

  • IMC Official Website

References

  1. ^ Who on earth is Jacob Harpaz? - HAARETZ
  2. ^ Berkshire Hathaway Inc. - Iscar Ltd. Joint News Release; Berkshire Hathaway to Acquire Iscar Metalworking Companies
  3. ^ Buffett personally cuts ribbon at Iscar China - Haaretz - Israel News
  4. ^ Why Warren Buffett Likes "Boring" TaeguTec - CNBC
  5. ^ [1]
  6. ^ http://dealbook.nytimes.com/2013/05/01/berkshire-to-buy-rest-of-imc-for-2-billion/
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