Kennametal completes sale of steel plate fabrication segment and other non-core businesses

Thursday, 03 December 2015 01:50:05 (GMT+3)   |   San Diego
       

Pittsburgh, Pennsylvania-based Kennametal Inc. announced Tuedsay that it has completed the sale of several non-core businesses related to certain castings, steel-plate fabrication and deburring operations to Madison Industries.
  
The sale is in alignment with the company's previously announced portfolio simplification strategy and its plans to reduce manufacturing footprint by 20-25 percent. Furthermore, it allows the company to focus on long-term growth of core manufacturing and technology processes.
  
Lincoln International served as financial advisors and Reed Smith LLP were legal advisors to Kennametal in this transaction.
  



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