LATROBE, Pa., May 2 -- Kennametal Inc. (NYSE:KMT) announced today that it has completed the previously announced acquisition of Purity Metal Holdings, Inc. and its wholly-owned subsidiary, International Specialty Alloys, Inc. (ISA).
ISA manufactures high-purity specialty metal products for the aerospace, defense and super alloy industries, as well as a number of other industries that use advanced metal coatings.
Kennametal conducts acquisitions according to a disciplined process that is part of the company's management operating system known as the Kennametal Value Business System (KVBS). This acquisition further supports Kennametal's growth and investment strategies, which include expanding its Advanced Materials Solutions Group (AMSG) to eventually represent 50 percent of its business.
Kennametal Inc. (NYSE:KMT) is a leading global supplier of tooling, engineered components and advanced materials consumed in production processes. The company improves customers' competitiveness by providing superior economic returns through the delivery of application knowledge and advanced technology to master the toughest of materials application demands. Companies producing everything from airframes to coal, from medical implants to oil wells and from turbochargers to motorcycle parts recognize Kennametal for extraordinary contributions to their value chains. Customers buy over $2.3 billion annually of Kennametal products and services - delivered by our approximately 13,500 talented employees in over 60 countries - with almost 50 percent of these revenues coming from outside the United States.
Visit us at kennametal.com. [KMT-G]
Source: Kennametal Inc.
CONTACT: Investor Relations: Quynh McGuire, +1-724-539-6559, Media Relations: Joy Chandler, +1-724-539-4618, both for Kennametal Inc.
Web site: http://kennametal.com/