Kennametal Inc. announced today the grand opening of its new manufacturing facility in Brazil. This seventy-five thousand square foot facility is located in Brazil's Industrial District of Indaiatuba and will support Kennametal's custom tooling and engineered components operations. The new facility, though small, is an important extension of Kennametal's business in the region, and is in line with their strategy to provide services where there is customer demand and to grow in developing economies.
"More than one billion new consumers are coming on line in the emerging economies - our global customers are moving rapidly to serve these markets and we are moving just as quickly to serve those customers," commented Carlos Cardoso, Kennametal President and CEO. "Our strategy is to grow our market share in some of these geographies, and Brazil is a key market for us. Our presence promotes customer intimacy, shorter lead times, global and local availability, and situates us to gain market share. We have a strong team in Brazil, have seen good growth there and are excited that with our new facility we will be able to offer even better service to our customers in this region and grow faster."
Kennametal started operations in the Brazilian market in 1989. Since then, Kennametal Brazil has tripled its revenue and, with the addition of its new facility, is expected to achieve and exceed growing market demand in the region while continuing to provide a competitive edge for its customers.
This release contains "forward-looking'' statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You can identify these forward-looking statements by the fact they use words such as "should," "anticipate," "estimate," "approximate," "expect," "may," "will," "project," "intend," "plan," "believe" and other words of similar meaning and expression in connection with any discussion of future operating or financial performance. One can also identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements are likely to relate to, among other things, our goals, plans and projections regarding our financial position, results of operations, market position, and product development, which are based on current expectations that involve inherent risks and uncertainties, including factors that could delay, divert or change any of them in the next several years. Although it is not possible to predict or identify all factors, they may include the following: global and regional economic conditions; local economic conditions in Brazil and surrounding countries; risks associated with the availability and costs of raw materials; energy costs; commodity prices; risks associated with integrating and divesting businesses and achieving the expected savings and synergies; competition; demands on management resources; risks associated with international markets, such as currency exchange rates and social and political environments; future terrorist attacks; labor relations; demand for and market acceptance of new and existing products; and risks associated with the implementation of restructuring plans and environmental remediation matters. We can give no assurance that any goal or plan set forth in forward- looking statements can be achieved and readers are cautioned not to place undue reliance on such statements, which speak only as of the date made. We undertake no obligation to release publicly any revisions to forward-looking statements as a result of future events or developments.
Kennametal Inc. 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 14,000 talented employees in over 60 countries-with almost 50 percent of these revenues coming from outside the United States. Visit us at www.kennametal.com [KMT-G]Photo: Newscom: http://www.newscom.com/cgi-bin/prnh/20060321/CLTU078
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SOURCE: Kennametal Inc.
CONTACT: Investor, Quynh McGuire, +1-724-539-6559, or Joy Chandler,
+1-724-539-4618, both of Kennametal Inc.
Web site: http://www.kennametal.com/