Berkshire Hathaway B (BRK.B) News

OMAHA, NEB. & TEFEN, ISRAEL, July 5 /CNW/ - Berkshire Hathaway Inc.
(NYSE:BRK.A) (NYSE:BRK.B) and Iscar, Ltd. today announced that Berkshire
Hathaway has successfully completed its acquisition of 80% of the Iscar
Metalworking Companies (IMC) in a transaction that valued IMC at US $5
billion.
The Iscar Metalworking Companies is an industry leader in the metal
cutting tools business through its Iscar, TaeguTec, Ingersoll and other IMC
group companies. Berkshire now owns 80% of the business and the Wertheimer
family, IMC's former shareholders, own the remaining 20%. IMC will continue to
be managed by its current management team, including Chairman Eitan Wertheimer
and President and Chief Executive Officer Jacob Harpaz, as well as the rest of
its current worldwide management team. IMC will remain headquartered in Tefen,
Israel, and its worldwide business operations will continue as usual.

About Berkshire Hathaway

Berkshire Hathaway and its subsidiaries engage in diverse business
activities including property and casualty insurance and reinsurance,
utilities and energy, finance, manufacturing, retailing and services. Common
stock of the company is listed on the New York Stock Exchange, trading symbols
BRK.A and BRK.B.

About the Iscar Metalworking Companies (IMC)

The Iscar Metalworking Companies provide a comprehensive range of tools
for the full scope of metalworking applications. The group is dedicated to a
philosophy of continuous improvement and innovation in all facets of its
operations, including manufacturing, product development, distribution, sales,
and administrative functions. IMC's products are manufactured in a global
network of world-class, technologically advanced manufacturing campuses, the
largest located in Tefen, Israel, and including facilities in the United
States; Korea; Brazil; China; Germany; India; Italy and Japan; and sold
through subsidiary offices and agents located in 61 major industrial countries
worldwide.