Iscar plans to implement overseas mergers and acquisitions, and the Chinese market becomes the first choice

by:Gewinn     2022-05-30
Israeli machinery manufacturer Iscar M Etal working Cos (hereinafter referred to as Iscar) recently stated that the company intends to implement overseas mergers and acquisitions. And because there are fewer anti-monopoly restrictions, the Chinese market will become its first choice for acquisitions. According to public information, Iscar, founded in 1952, is the second largest manufacturer of metal cutting equipment in the world. Its main business includes abrasive tools and machining. In May 2006, Berkshire Hathaway, the investment flagship at the helm of Warren Buffett, aggressively acquired an 80% stake in Iscar's major shareholder, IMC Group, and among the latter's seven assets, Iscar is the largest. It is reported that Iscar CEO Eitan Wertheimer has publicly stated that the company's plan is to surpass SandvikAB, the world's number one. If the scale of mergers and acquisitions exceeds a certain level, antitrust restrictions will be encountered in many countries around the world. In contrast, the Chinese market may be more open. Whitham also pointed out that the company is very eager to make acquisitions, but there are not many targets to choose from on the market.
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