Warren Buffett Plans to Invest More in Israel
In a video interview screened on October 12, 2010 in Israel, Warren Buffett stated: “We are always interested in more investments in Israel. We will be happy to acquire a large and independent company in Israel, or some small companies … and I think we will do both.”
More than four years ago, Berkshire Hathaway acquired 80% of the Israeli company Iscar Ltd. for $4 billion. Buffett later said that purchasing Iscar, an industry leader in the metal cutting tools business, was a “dream investment”.
Buffett added that he believes that Israel has a sustainable advantage in the global competitive marketplace. “If you are looking for brains – stop in Israel, there is no need to go further. In my opinion, Israel as a state has proven that it has an exceptional amount of brains and energy and in my eyes it works.”
One additional attraction of Israel is its projected growth rate. Israel’s economy is forecast to grow at least 4 percent in both 2010 and 2011.
(Source: IsraelNationalNews.com October 14, 2010)
