Warren Buffet praises Israeli acquisition Iscar
Warren Buffet praised Israeli Iscar, a tool-cutting company that was his first acquisition of a company outside the U.S. (in 2006), in his annual letter to shareholders. Haaretz quotes Buffet as saying: “Iscar, our 80%-owned cutting-tools operation, continues to amaze us. Its sales growth and overall performance are unique in its industry,” Iscar generated record operating earnings last year,and is one of Hathaway’s five largest non-insurance companies.
According to Haaretz, the report lavishes praise on Iscar and its executives: “Iscar’s managers – Eitan Wertheimer, Jacob Harpaz and Danny Goldman – are brilliant strategists and operators.”
For the full Haaretz article please click here.