LATROBE, Pa., March 20, 2014 /PRNewswire/ -- Kennametal Inc. (NYSE: KMT) today announced that for the third year in a row, it has been named one of the World's Most Ethical Companies by The Ethisphere Institute, a leading independent organization dedicated to advancing and recognizing best practices in business ethics.
"To be recognized for a third time as one of the world's most ethical companies is an outstanding honor and speaks volumes about the dedicated, talented team we have at Kennametal," said Chairman, President and CEO Carlos Cardoso. "Our employees consistently demonstrate the values and beliefs that set Kennametal apart as a leader in industry, enabling us to give our best to our customers, shareholders, communities and everyone we serve."
In addition to extensive ethics training and communication with employees, Kennametal's efforts in past years have included a number of new records for the company in:
- Employee engagement, exceeding peer comparisons with a record 91 percent employee participation consistent increases in engagement levels measured in the company's Voice of Employee survey;
- Talent development, delivering nearly 100 technical training programs to more than 2,500 people, including customers and distributors through The Kennametal Knowledge Center;
- Safety, including key milestones as more than half of the company's facilities achieved the aim of keeping all employees and visitors 100 percent safe, 100 percent of the time;
- Commitment to Integrity, with 100 percent participation globally in the company's quarterly business ethics and compliance training modules;
- Community stewardship, including more than 2,100 hours donated by more than 1,200 employee volunteers worldwide and record contributions to community organizations such as the United Way; and
- Innovation, consistently exceeding 40 percent of sales realized from new products that offer customers at least 20 percent performance improvement.
Through in-depth research and a multi-step analysis, Ethisphere honored 145 companies from three dozen industries worldwide. Kennametal is one of just seven industrial manufacturing companies chosen for this year's honor.
"The entire community of World's Most Ethical Companies believe that customers, employees, investors and regulators place a high premium on trust and that ethics and good governance are key in earning it," said Ethisphere's Chief Executive Officer, Timothy Erblich.
Celebrating more than 75 years as an industrial technology leader, Kennametal Inc. delivers productivity to customers seeking peak performance in demanding environments. The company provides innovative wear-resistant products, application engineering and services backed by advanced material science, serving customers in 60 countries across diverse sectors of aerospace, earthworks, energy, industrial production, transportation and infrastructure. With approximately 14,000 employees and nearly $3 billion in sales, the company realizes half of its revenue from outside North America, and 40 percent globally from innovations introduced in the past five years. Recognized among the "World's Most Ethical Companies" (Ethisphere); "Outstanding Corporate Innovator" (Product Development Management Association); and "America's Safest Companies" (EHS Today) with a focus on 100 percent safety, Kennametal and its foundation invest in technical education, industrial technologies and material science to deliver the promise of progress and economic prosperity to people everywhere. For more information, visit the company's website at www.kennametal.com.
SOURCE Kennametal Inc.