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Iscar Metals history
Iscar Metals company history timeline
Stef Wertheimer is the founder of Iscar Metalworking, which began operations in 1952 as a one-man tool shop in northern Israel.
The cutoff tool, which he considers the first good new product developed by Iscar, came to market in 1976.
In late 2005, Eitan Wertheimer, who had taken over management of Iscar from his father, sent a brief letter to Warren Buffett describing Iscar and concluding that Berkshire Hathaway would be an ideal home for the company.
With shareholders’ equity of $91 billion at the end of 2005, Berkshire’s purchase of 80 percent of Iscar for $4 billion represented a significant allocation of capital.
Today, Iscar is a multinational business, 80 percent of which was purchased in 2006 by Warren Buffett’s Berkshire Hathaway Co.
Iscar Chairman Eitan Wertheimer InterviewJune 14, 2009
Iscar's Sales are Recovering; Wertheimer Looks at Expansion PossibilitiesApril 21, 2010
Based on this purchase, the implied value of Iscar was $10.25 billion in mid 2013, up from $5 billion seven years earlier, as Mr.
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Iscar Metals competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| ISCAR | 1952 | - | 12,000 | - |
| Kennametal | 1938 | $2.0B | 10,000 | 124 |
| William M. Bird | 1865 | $8.5M | 90 | 4 |
| Takara Belmont Usa, Inc | - | $31.0M | 100 | - |
| Burt Process Equipment | 1970 | $40.0M | 7 | 17 |
| Rochester Midland | 1888 | $50.0M | 200 | 46 |
| The Northeast Group | 1989 | $66.0M | 50 | 11 |
| Petedge | - | $1.0M | 30 | - |
| EcoWater Systems | 1925 | $2.2M | 50 | - |
| PTM | 1972 | $19.0M | 50 | 23 |
Iscar Metals history FAQs
Zippia gives an in-depth look into the details of Iscar Metals, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Iscar Metals. The employee data is based on information from people who have self-reported their past or current employments at Iscar Metals. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Iscar Metals. The data presented on this page does not represent the view of Iscar Metals and its employees or that of Zippia.
Iscar Metals may also be known as or be related to ISCAR Metals, ISCAR Metals, Inc., Iscar Metals and Mad Metals Inc.