TaeguTec Ltd. (Korean: 대구텍), formerly known as Korea Tungsten Company, is a multinational corporation headquartered in Daegu, Korea. TaeguTec group has 26 overseas subsidiaries, over 130 distributors and 30 agents in 50 countries across Europe, Asia, Australia, and the Americas.
In addition to the initial 80 per cent stake purchased in 2006, Warren Buffett paid an additional US$2 billion for the remaining stake in IMC, of which TaeguTec was a part.[1] 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.[2] On March 21, 2011, Warren Buffett re-visited the firm to attend the TaeguTec Plant 2 inauguration ceremony and later met with Korean President Lee Myung-bak.
^TaeguTec received '$200 million Export Tower', TaeguTec, Dec 11, 2008
External linksedit
Official website
December 15, 2023
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This article contains content that is written like an advertisement Please help improve it by removing promotional content and inappropriate external links and by adding encyclopedic content written from a neutral point of view July 2023 Learn how and when to remove this template message TaeguTec Ltd Korean 대구텍 formerly known as Korea Tungsten Company is a multinational corporation headquartered in Daegu Korea TaeguTec group has 26 overseas subsidiaries over 130 distributors and 30 agents in 50 countries across Europe Asia Australia and the Americas TaeguTec Ltd TypePrivate companyIndustryMachineryPredecessorKorea Tungsten Co Founded1952 71 years ago 1952 HeadquartersTaegu South KoreaArea servedWorldwideKey peopleHan Hyun jun President and CEO Number of employees2 200 2018 ParentIMC GroupSubsidiaries26Websitehttp www taegutec com In addition to the initial 80 per cent stake purchased in 2006 Warren Buffett paid an additional US 2 billion for the remaining stake in IMC of which TaeguTec was a part 1 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 2 On March 21 2011 Warren Buffett re visited the firm to attend the TaeguTec Plant 2 inauguration ceremony and later met with Korean President Lee Myung bak Contents 1 History 1 1 Before 1960s 1 2 1960s 1 3 1970s 1 4 1980s 1 5 1990s 1 6 2000s 2 Awards and events 3 See also 4 References 5 External linksHistory editBefore 1960s edit Apr 1916 Outcrop of Sang dong mine discovered in Gangwon Province South Korea Feb 1947 Exported Scheelite to the U S for the first time Sep 1952 Korea Tungsten Company KTC was established by the Korean government Export US 16 457 000 56 of Korean total Employee 4 287 May 1959 Constructed chemical processing plant1960s edit Jun 1961 Established New York office Sep 1961 Established R amp D Center Nov 1961 Established London office Feb 1963 Established Tokyo office Nov 1966 Won official commendation from government for export Ranked second among Korean companies Nov 1967 Won official commendation from government for export Ranked third among Korean companies Feb 1968 POSCO established as a joint venture between the Korean government and KTC government 75 KTC 25 Nov 1968 Won official commendation from government for export Nov 1969 Won official commendation from government for export1970s edit Nov 1972 Constructed APT Ammonium Para Tungstate plant Feb 1974 Constructed tungsten metal powder and tungsten carbide powder plant Nov 1976 Established Rotterdam office Nov 1977 Constructed cemented carbide plant Products Blank carbide insert mining tools brazed tools Oct 1978 Constructed coating plant CVD TiN production Dec 1979 Constructed tool holder plant1980s edit Jan 1981 Developed special coating substrate May 1983 Rotterdam office in the Netherlands moved to Germany Jul 1985 Common R amp D cooperation between Korea Tungsten and POSCO Oct 1985 Developed CERMET inserts Nov 1988 Constructed carbide roll plant Nov 1989 Constructed tungsten wire plant1990s edit Mar 1991 Constructed ceramic plant Feb 1994 Sang dong tungsten mine closed Mar 1994 Privatized and taken over by Keopyung Group May 1995 Established tungsten wire plant in China Aug 1998 KTC bought out by Iscar Aug 1998 Company name changed from Korea Tungsten Company to TaeguTec Ltd Feb 1999 Headquarters moved from Seoul to Taegu Apr 1999 Constructed new Marketing Center 1999 Established TaeguTec USA currently Ingersoll USA 1999 Established TaeguTec Germany currently Ingersoll GmbH 2000s edit Mar 2000 Established TaeguTec India in Bangalore Mar 2000 Established TaeguTec UK in Leeds Jul 2000 Constructed new R amp D Center Dec 2000 Established TaeguTec China in Shanghai Mar 2001 Established TaeguTec Brazil in Sao Paulo Jun 2001 Established TaeguTec Scandinavia in Copenhagen Denmark Jun 2002 Established TaeguTec Italy in Turin amp Milan Jun 2004 Established TaeguTec Japan in Nagoya Jun 2004 Constructed new Tech Center and Carbide Rod factory Jun 2005 Established TaeguTec Australia in Sydney Oct 2005 Established TaeguTec Turkey in Istanbul Mar 2006 Established TaeguTec Slovakia in Zilina Apr 2006 Established TaeguTec Malaysia in Kuala Lumpur Jan 2007 Established TaeguTec Thailand in Bangkok Feb 2007 Established TaeguTec Spain in Barcelona Mar 2007 Established TaeguTec France in Champs sur Marne Jul 2007 Established TaeguTec Indonesia in Bekasi Nov 2007 Established TaeguTec Poland in Wroclaw Apr 2008 Established TaeguTec Russia in Moscow Apr 2008 Established TaeguTec Ukraine in Dnipropetrovsk Jun 2009 Established TaeguTec South Africa in Johannesburg Sep 2009 Established TaeguTec Czech in Pilsen Nov 2009 Established TaeguTec Hungary in Torokbalint Nov 2010 Established TaeguTec Argentina in Buenos Aires Apr 2012 Opened TaeguTec Plant II May 2012 TaeguTec acquired the internationally recognized AEO certification from the World Customs Organization Dec 2012 TaeguTec received 300 million Export Tower by the Korean government Jan 2013 TaeguTec Recognized for Wellbeing of Workers by the Korean government Jan 2013 2012 Excellent Enterprises in Job Creation MOEL by the Korean government May 2013 Berkshire Hathaway acquired the remaining 20 percent of the IMC Group to become sole owner Mar 2014 Established TaeguTec Taiwan in KaohsiungAwards and events editReceived a 100 million Export Tower award 2005 Warren Buffett visited TaeguTec 2007 Received a 200 million Export Tower award 2008 3 Warren Buffett attended TaeguTec Plant 2 inauguration ceremony 2011 See also edit nbsp Companies portalWarren Buffett Berkshire Hathaway IMC POSCOReferences edit Buffett pays 2bn for control of Israeli group Financial Times May 1 2013 Why Warren Buffett Likes Boring TaeguTec CNBC TaeguTec received 200 million Export Tower TaeguTec Dec 11 2008External links editOfficial website Retrieved from https en wikipedia org w index php title 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