TaeguTec's Plant 2 Groundbreaking Ceremony

Mr. Warren Buffett, the Chairman of Berkshire Hathaway, visited Korea together with Mr. Eitan Wertheimer, the Chairman of IMC Group, along with his management group to attend TaeguTec's Plant 2 groundbreaking ceremony.

IMC Group, founded by the Wertheimer family, has become a global metal working group, including 4 world leading metal cutting companies- ISCAR, TaeguTec, Ingersoll and Tungaloy- as well as several niche-market-targeted metal cutting companies.

TaeguTec is a global company, based on high technology production facilities, extensive R&D, engineering and innovation having a completely computerized support system.

The company has subsidiaries in more than 25 major industrialized countries, and has experienced sound growth since Mr. Buffett's investment in 2006. Based on the recent success, the IMC group decided to invest in the expansion of the production infrastructure and build the new state-of-the-art-plant.

Following the ceremony, Mr. Buffett and Mr. Wertheimer attended a press conference and a reception where the two VIPs were presented with gifts including caricatured t-shirts designed by a TaeguTec employee and tailor-made Hanbok - Traditional Korean Dress.

Afterwards the VIPs and their companies left for Seoul to visit the Blue House for a meeting with South Korean president Lee Myung-bak and departed Korea the following day, March 22nd.

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