Although ISCAR was established in a wooden garage in 1952, it has grown into an international company with headquarters in 52 countries in America, Europe and Asia. It’s flourishing success has been attributed to providing the best metal cutting technology in the world along with outstanding innovation.
Discover ‘Iscar’ – The Multi-Billion-Dolllar Company You’ve Never Heard
ISCAR has had flourishing success since its establishment in 1952 by Stef Wertheimer in the Tefen industrial park located in Israel's northern Galilee region. It went from being a local metalworking shop to one of the country's most profitable businesses. Currently ISCAR specializes in precision tools for the automotive, aerospace, and die-and-mold industries. "They are at the cutting edge of technology in their field and spend countless millions on research and development to stay ahead of the game," said Noam Aharon, chairman of Polygon Tamarisk, an Israeli startup in the metal technology field that has done business with ISCAR for the
4 years. ISCAR has a wide network of affiliates and subsidiaries in over 60 countries and has managers as far as China, who began as students at the company's training academies. “These are men who come from an agricultural village who had no hope, who then prove to be the best man for the job,” explains Wertheimer. The biggest move for the business came with Berkshire Hathaway's purchase of a $4 billion stake in the company. The deal brought together two major forces that are heavily influenced by a corporate culture of hard work and value. It is estimated that Stef Wertheimer's net
worth is approximately $5.6 billion according to Forbes.
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