Berkshire Hathaway Inc. agreed to pay $2.05 billion for the 20 percent of IMC International Metalworking Cos. that it doesn’t already own as Chairman Warren Buffett expands his bet on the Israeli manufacturer.

IMC, known as Iscar, makes cutting gear for industries including aerospace and auto manufacturing. Jacob Harpaz will remain chief executive officer of Tefen, Israel-based IMC, the companies said today in a statement.

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