Warren Buffet Buys Second Israeli Company in a Week

Warren Buffet, the world second wealthiest man, has bought a second Israeli company in less than a week.

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Israel National News Staff, | updated: 12:49

CTP, a subsidiary of Buffet's Berkshire Hathaway, purchased 60 percent of Israel's Agro-Logic agricultural manufacturing company, according to Globes. The company produces climate control systems, as well as weighing systems for feed and poultry.

Agrologic, started by Israelis Jan Lichten and Yochanan Hershtik in 1998, has 20 employees and is based in Netanya.

Last week, Buffet invested $4 billion in Iscar, a metalworks company based in Israel.

CTB president and CEO Victor A. Mancinelli told Globes, “Agrologic is recognized for its innovative and cost-efficient designs…We are also impressed with how Agrologic has used cellular technology in some of their systems.”

Agro-Logic CEO Lichten said that the development will "make available all [CTB's] global marketing network and broad economic backing, that will enable us to grow. It’s the biggest company in the world in its field.”