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December 20, 2014 / 28 Kislev, 5775
 
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Buffett Buys Up Israeli Military-Aerospace Supplier

Warren Buffett has lived up to his love for Israel’s companies and his Berkshire Hathaway company has announced the acquisition of Lod-based Ray-Q Interconnect for an undisclosed sum of money.

Ray-Q provides electrical interconnect solutions to military, aerospace and other industries. Financial details of the deal were not disclosed.

Buffett made a splash in the United States and Israel 2008 with the $4 billion purchase of most of the  Isracar a precision tool-making company and said at the time he likes Israeli companies. It completed the purchase this year with another $2 billion payment.

Berkshire Hathaway’s ITT subsidiary announced on Friday it is buying Ray-Q, a subsidiary of Raychem. It provides high quality electrical interconnect solutions to military, aerospace and other high-reliability product industries, especially those in Israel, Turkey, Eastern Europe and India.

Yigal Funt, Ray-Q Chief Executive Officer since 1976, will continue to direct the company, which employs approximately 70 people.

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One Response to “Buffett Buys Up Israeli Military-Aerospace Supplier”

  1. Yechiel Baum says:

    how to ensure it will not be used and sold to arab customers?

Comments are closed.

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