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In 1952, Stef Wertheimer started ISCAR on his family's kitchen porch. After many years of constant expansion, Wertheimer moved the business from his kitchen to the Tefen Industrial Zone, one of four industrial parks he established in Israel. Today, ISCAR has expanded from a single company in Israel to a multinational conglomerate with 140 subsidiaries in 65 countries. Berkshire Hathaway, chaired by Warren Buffett, acquired 80% of the IMC Group for US$5 billion in May 2006, which became the largest corporate deal ever in Israel's history. Mr. Buffett personally attended the inauguration of a manufacturing plant in Dalian, China, after which he flew to Taegu, Korea to visit TaeguTec, one of the largest companies of the IMC Group. |
