TaeguTec


TaeguTec Ltd., formerly known as Korea Tungsten Company, is a multinational corporation headquartered in Daegu, Korea. It is the largest cutting tools manufacturer in the Far East, also Korea's largest manufacturer of tungsten cutting tools and hard metal tools with the only integrated tungsten production plant in the world. TaeguTec group has 26 overseas subsidiaries and over 130 distributors and 30 agents in 50 countries across Europe, Asia, Australia, and the American countries. Considered as the world's oldest manufacturer of tungsten and related products, the group has earned reputation for its excellent global marketing and large production capacity worldwide. In addition to the initial 80 per cent stake purchased in 2006, Warren Buffett paid additional 2 billion dollars for the remaining stake in IMC, of which TaeguTec was a part. Through this acquisition, TaeguTec became Berkshire Hathaway's first and only wholly owned subsidiary in Korea. On October 25, 2007, Warren Buffett flew to Daegu to tour TaeguTec and to meet with the management. On March 21, 2011, Warren Buffett re-visited the firm to attend TaeguTec Plant 2 inauguration ceremony and later met with Korean President Lee Myung-bak.

History

Before 1960s

Mar.2014:Established TaeguTec Taiwan in Kaohsiung
May2013:Berkshire Hathaway acquired the remaining 20 percent of the IMC Group to become sole owner
Jan.2013:2012 Excellent Enterprises in Job Creation by the Korean government
Jan.2013:TaeguTec Recognized for Wellbeing of Workers by the Korean government
Dec.2012:TaeguTec received “$300 million Export Tower” by the Korean government
May2012:TaeguTec acquired the internationally recognized AEO certification from the World Customs
Organization

Awards and events