Kennametal Inc. said today that it had named John Q. Stang vice president of global sales for the company's largest unit, its metalworking business.
Stang, who has 25 years of global sales and marketing experience with Ingersoll Rand Co., officially joins Kennametal August 19. He will report directly to Pat Mahanes, vice president and chief operating officer of the Metalworking Solutions and Services Group.
"Kennametal is poised for strong growth in the coming months," said Markos I. Tambakeras, chairman, president and chief executive officer. "We have worked hard to strengthen our balance sheet and manage costs effectively, thus earning the right to grow.
"The addition of John Stang underscores our intensifying focus on sales and marketing. Under John's leadership, I am confident that our world-class sales force will lead the way in helping Kennametal to achieve its ambition of being the premier tooling-solutions supplier in the world."
During his career at Ingersoll Rand, Stang built an outstanding track record for sales success, growth and innovation. He was known as an excellent team-builder, communicator and strategist, with great creativity and knowledge of distribution channels who always delivered.
"I am delighted to join a dynamic and global company that has such a rich history of innovative products, outstanding people and corporate responsibility," Stang said. "I am looking forward to linking our internal and external efforts to provide to all of our customers premier tooling solutions that will assist them in their quest for worldwide competitiveness."
Kennametal is the second-largest specialty toolmaker in the world, with a presence in more than 60 countries. MSSG is the largest of Kennametal's four business units and accounted for 56 percent of the company's $1.6 billion in sales in Fiscal 2002. MSSG makes metalcutting tools, tooling systems and other products used primarily in industrial manufacturing.
Kennametal reached a definitive agreement in May to acquire Widia's European and Indian operations from Milacron Inc. for $170 million (U.S.). Once the transaction closes in several weeks, Stang will also be responsible for overseeing sales for the Widia brands.
Stang, 48, graduated from Loyola College in Baltimore, Md., in 1976 with a BS degree in biology. He earned an MBA from Loyola in 1986. He and his wife, Darlene, have two children, Katelyn, 19, and Kyle, 16.
Kennametal Inc. aspires to be the premier tooling solutions supplier in the world with operational excellence throughout the value chain and best-in- class manufacturing and technology. Kennametal strives to deliver superior shareowner value through top-tier financial performance. The company provides customers a broad range of technologically advanced tools, tooling systems and engineering services aimed at improving customers' manufacturing competitiveness. With approximately 12,000 employees worldwide, the company's fiscal 2002 annual sales were approximately $1.6 billion, with a third coming from sales outside the United States. Kennametal is a five-time winner of the GM "Supplier of the Year" award and is represented in more than 60 countries. Kennametal operations in Europe are headquartered in Furth, Germany. Kennametal Asia Pacific operations are headquartered in Singapore. For more information, visit the company's web site at http://www.kennametal.com/.
SOURCE: Kennametal Inc.
CONTACT: Beth A. Riley, Investor Relations, +1-724-539-6141, or
Steve Halvonik, Media Relations, +1-724-539-4618, both of Kennametal
Web site: http://www.kennametal.com/