Kennametal Inc., Latrobe, PA, has recently increased its ownership in its Italian and Spanish affiliates. This grows Kennametal’s ownership in Kennametal Italia S.p.A. from 55% to 66% and in Kenci S.A. from 43% to 53%.
Kennametal Italia S.p.A. serves the Italian metalworking market via a service center and operates a manufacturing facility that provides products for Kennametal’s worldwide sales network. Kenci S.A. serves the metalworking market in Spain and Portugal.
“Increasing our ownership in these companies is another example of our ongoing strategy to invest, grow and increase our customer base in important markets around the world,” said Carlos Cardoso, Kennametal president and CEO. “We have had great success in Italy, Spain and Portugal over the years and we will continue to build upon that to enhance service to existing customers and to reach new ones.”
Kennametal Inc. is a global supplier of tooling, engineered components and advanced materials consumed in production processes with more than $2 billion in annual sales in over 60 countries. Almost 50% of these revenues come from outside the U.S.
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