Kennametal Inc. announced today that it has completed the acquisition of ROMICRON® from Industrias Romi S.A.
Kennametal has been the global distributor of ROMICRON® for the past 14 years, and entered into an agreement with Industrias Romi S.A. in July 2008 to acquire its ROMICRON® technology and manufacturing. The ROMICRON® technology and manufacturing will be integrated into Kennametal's Indaiatuba, Brazil location and will help to strengthen the company's market leading holemaking and precision hole finishing portfolio.
"The addition of ROMICRON's® high precision boring systems to the Kennametal portfolio will expand our capabilities to offer holemaking solutions from roughing to fine finishing," commented Paul DeMand, Kennametal Vice President and President of the company's Metalworking Solutions and Services Group. "We believe that together Kennametal and ROMICRON® can capitalize on unique world-class technologies to deliver value, service and solutions to our customers worldwide."
This acquisition is in alignment with our growth strategies and further supports our goal to geographically balance our business and capitalize on market opportunities in the emerging economies.
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. As of the prior fiscal year end, customers bought approximately $2.7 billion annually of Kennametal products and services -- delivered by our 14,000 talented employees in over 60 countries -- with more than 50 percent of these revenues coming from outside North America. Visit us at www.kennametal.com. [KMT-G]
First Call Analyst:
SOURCE: Kennametal Inc.
CONTACT: Media relations, Joy Chandler, +1-724-539-4618, or Investor
relations, Quynh McGuire, +1-724-539-6559, both of Kennametal Inc.
Web Site: http://www.kennametal.com/