Kennametal Inc. (KMT) - NYSE
  • Sep. 16, 2013, 5:59 PM
    • Analysts see a win-win outcome in Kennametal's (KMT +0.8%) $605M purchase of Allegheny Technologies' (ATI +8.1%) tungsten materials business.
    • By purchasing one of the biggest tungsten businesses in the world, KMT will be able to expand in the aerospace and energy sectors and reduce its raw material costs; tungsten, which is harder than steel and titanium, is very difficult to recycle but ATI has learned how to do it, KMT CEO Carlos Cardoso says.
    • "These are very specialized businesses, and there aren't huge numbers of competitors," Bradford Research says.
    • For ATI, the sale will allow it to focus more on high-performance metals and flat-rolled items; in the short term, the sale strengthens ATI's balance sheet, KeyBanc says.
    | Sep. 16, 2013, 5:59 PM
  • Sep. 16, 2013, 7:41 AM
    • 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.
    | Sep. 16, 2013, 7:41 AM
  • Jan. 17, 2012, 8:57 AM

    Kennametal (KMT) agrees to acquire U.K.-based Deloro Stellite Group from Duke Street Capital for $354M. Deloro Stellite manufactures alloy-based materials for extreme environments involving high temperature, corrosion and abrasion. The transaction is expected to add to KMT's FY2013 earnings.

    | Jan. 17, 2012, 8:57 AM
Company Description
Kennametal, Inc. supplies tooling, engineered components and advanced materials that are consumed in production processes. Its product offering includes a selection of standard and customized technologies for metalworking, such as sophisticated metal cutting tools, tooling systems and services,... More
Industry: Machine Tools & Accessories
Country: United States