Like Iscar, Tungaloy manufactures drilling and milling tools.
Iscar Ltd., controlled by Warren Buffet through Berkshire Hathaway Inc. (NYSE: BRK-A) and Eitan Wertheimer, has completed its acquisition of Tungaloy Corporation of Japan for $1 billion. This is the largest-ever acquisition of a Japanese company by an Israeli one.
Like Iscar, Tungaloy manufactures drilling and milling tools. Founded in 1934, the company has 2,618 employees.
Berkshire Hathaway acquired 80% of Iscar in 2006 for $4 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on September 21, 2008
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