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Title IMC President Launches TaeguTec's New 'Gold Rush' Series in UK
Date Jul . 03. 2012 Photos

On 21st June 2012 TaeguTec UK launched its new Gold Rush series of cutting tools. Presented at the Birmingham ICC to over 200 customers and distributors by IMC Group President and CEO Mr. Jacob Harpaz, the prestigious event proved a huge success.

From the offset Mr. Harpaz eluded to the phenomenal success the IMC Group and in particular TaeguTec has achieved, not only prior to, but also since the Berkshire Hathaway takeover in 2008 by investment guru Mr. Warren Buffet.

Whilst the global downturn had a detrimental impact on business in 2009, the IMC Group was the only major cutting tool manufacturer to immediately bounce back and record sales in 2010 beyond the 2008 levels.

Since becoming a member of the IMC Group in 1999, TaeguTec has grown almost exponentially. This growth has been built upon a strategy of continually opening regional offices to serve the end users regardless of locality whilst strategically increasing production capacity by opening manufacturing plants in China & India to serve the insatiable appetite for its cutting tools from these emerging markets. This ongoing growth seamlessly continues with the recent opening of a second manufacturing plant in Daegu, Korea. Coupled with remarkable growth levels, this carefully conceived strategy has seen TaeguTec's exports ratio rise from 21% in 1999 to 65% in 2011.

With regards to the UK event, Mr. Harpaz was delighted to introduce the new "Gold Rush" line of cutting tools. Closing proceedings, Mr. Harpaz assured the audience of customers and distributors that the IMC Group and TaeguTec would always strive to be the benchmark in cutting tool innovations, delivering cost reductions and productivity benefits to its customer base.