The 2020 Mid-Year Economic Update_long

Berkshire Hathaway Buys Rest of IMC International Metalworking Companies

Buffett: $2.1 billion price is indicative of IMCs significant seven-year growth.

Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B), Omaha, NE, has acquired from the Wertheimer family the 20 percent of IMC International Metalworking Companies that it did not already own for $2.1 billion.

“As you can surmise from the price we’re paying for the remaining interest, IMC has enjoyed very significant growth over the last seven years, and we are delighted to acquire the portion of the company that was retained by the Wertheimer family when IMC first became a member of the Berkshire group of companies,” said Warren Buffett, Berkshire Hathaway chairman and CEO.

IMC International Metalworking Companies provides a comprehensive range of tools for the full scope of metalworking applications. The group’s largest manufacturing campus is located in Tefen, Israel, and other facilities are located in the U.S., Korea, Brazil, China, Germany, India, Italy and Japan.

 

 

 

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.