Seeking Alpha

Kennametal buys Allegheny's tungsten business for $605M

  • Kennametal (KMT) agrees to acquire the tungsten materials business of Allegheny Technologies (ATI) for $605M.
  • KMT forecasts potential annual run-rate cost synergies of $30M-$40M through productivity improvements, operational efficiencies and raw-material cost benefits.
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