A Short Report Of Iscar Over The Years
From humble beginnings Iscar is now one of the world's principal manufacturers of cutting tools. Stef Wertheimer started Iscar in 1952 in his garage. After several year and several expansions Iscar moved to it's current location in the Tefen Industrial Zone seated in Israel's Western Galilee. Since it's conception Iscar has expanded from a sole market to having representation in over 50 countries world wide.
Iscar's state of the art plant utilizes sophisticated and fully automatic CNC milling and turning machines to construct tooling round the clock. The design of the buildings allows for flexibility in the manufacturing procedure. Within a matter of hours a different product can be put into production. Automation has been a key point to the achievements of Iscar. The facility uses pick & place robots as well as Automatic Guided Vehicles that are remote controlled by a central production computer, products are hauled about the facility in this manner.
Iscar strives to be a leader in the cutting tool industry. Every year Iscar uses about 10% of it's total capital to research and development. Iscar feels that innovation is a way of existence. Every day new innovations are fashioned by all levels of personnel. Research and development isn't limited to just tooling. Iscar is constantly looking for different, more suitable and more cost effective ways of creating things. These innovations have allowed Iscar to evolve into one of the fastest growing companies in the industry. The successes of Iscar hinge on these innovations. They aim to create the most proficient metal cutting technologies in the world. Piloting the way is their hard working faculty who create more efficient, practical and economical products.
In 2006 Iscar turned a new page. Berkshire Hathaway, an very large holding firm, controlled by Warren Buffett bought an 80% share of the IMC group, Iscar being it's largest constituent. Iscar is the first company from outside the US that Berkshire Hathaway has acquired.
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