Kennametal Inc. announced today that it has completed the previously announced acquisition of the assets of Tricon Metals & Services, Inc. This business will be known as Kennametal Tricon Metals & Services and will be part of Kennametal's Advanced Materials Solutions Group (AMSG) business.
Tricon is a leading provider of custom wear solutions specializing in consumable proprietary steels for the surface and underground mining markets, including hard rock and coal. Solutions include cladded products, wear pins, shafting and custom fabricated replacement components.
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 AMSG to eventually represent 50 percent of its business.
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 approximately $2.7 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 North America. Visit us at http://www.kennametal.com/. [KMT-G]
First Call Analyst:
SOURCE: Kennametal Inc.
CONTACT: Media Relations, Joy Chandler, +1-724-539-5708, or Investor
Relations, Quynh McGuire, +1-724-539-6559, both of Kennametal Inc.
Web site: http://www.kennametal.com/