US Edition
Kennametal Announces Sale of Subsidiary in Goshen, IN
- Kennametal Inc. completed the sale of its Goshen, IN subsidiary, Kennametal Stellite, L.P., on June 6, 2025, announced from Pittsburgh.
- Kennametal divested its Goshen subsidiary, which accounts for under 2% of total sales, to an investment firm located in Chicago as part of efforts to enhance its sales mix and sharpen strategic priorities.
- Kennametal Stellite, L.P., a subsidiary within Kennametal's Infrastructure division, operates in the markets for surface coating and welding products but contributes less than 2% to the company’s total sales and has a negligible impact on overall profitability.
- Kennametal received $19 million at closing, expects general corporate use of proceeds, and may earn additional amounts through a three-year EBITDA-based earn-out.
- The transaction caused an immaterial pre-tax loss and allows Kennametal to reduce material cost volatility and prioritize long-term strategic priorities, CEO Sanjay Chowbey stated.
35 Articles
35 Articles
Kennametal Announces Sale of Subsidiary in Goshen_ IN (Form 8-K) (Kennametal Inc)
) Kennametal Announces Sale of Subsidiary in Goshen, IN PITTSBURGH, PA, June 6, 2025 - Kennametal Inc. (NYSE: KMT) today announced that it has completed the sale of its business in Goshen, IN. "This portfolio action is an important step toward improving our overall sales mix, reducing material cost volatility and focusing our resources on long-term strategic priorities that create greater value for all our stakeholders," said Kennametal Presiden…
Kennametal Announces Sale of Subsidiary in Goshen, IN - PressReach
PITTSBURGH, June 6, 2025 /PRNewswire/ — Kennametal Inc. (NYSE: KMT) today announced that it has completed the sale of its business in Goshen, IN. “This portfolio action is an important step toward improving our overall sales mix, reducing material cost volatility and focusing our resources on long-term strategic priorities that create greater value for all our stakeholders,” said Kennametal President & CEO Sanjay Chowbey. Kennametal received $1…
Coverage Details
Bias Distribution
- 56% of the sources are Center
To view factuality data please Upgrade to Premium
