May 1, 2014 / 1:35 PM / 3 years ago

Israel's Wertheimer sells rest of Blades to Pratt & Whitney -report

1 Min Read

JERUSALEM, May 1 (Reuters) - Israeli billionaire Stef Wertheimer sold its remaining 51 percent stake in Blades Technology (BTL), a manufacturer of airplane parts, to U.S. jet engine-maker Pratt & Whitney for hundreds of millions of shekels, Israeli media said.

Pratt & Whitney is a unit of United Technologies Corp .

Wertheimer's office and BTL were not available to immediately comment on the reports from Israeli financial news websites on Thursday.

Founded in 1968 to supply the Israeli Air Force with spare parts, BTL has become one of the world's largest manufacturers of machine blades and vanes for the aerospace and industrial gas turbine industries. The Globes financial news website said BTL produces as much as 40 percent of all compressor and turbine vanes in the world at its plant in northern Israel.

Wertheimer sold toolmaker Iscar in two multi-billion dollar deals with Warren Buffet's Berkshire Hathaway. (Reporting by Ari Rabinovitch; Editing by Steven Scheer)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below