Kennametal to Buy German Manufacturer
Kennametal Inc., Latrobe, PA, has agreed to purchase the Sintec Group, Buching, Germany. The purchase of Sintec, which manufactures ceramic engineered components used in the aerospace, general engineering, metallizing and medical markets, complements Kennametal's core knowledge of materials science. The transaction is expected to close by June 30, 2006, and remains subject to customary regulatory approval and negotiated conditions of closing.
The Sintec Group was founded in 1980 and has operations in Schongau and Halblech-Buching, Germany, Biel, Switzerland, Shanghai, China, Newport, UK, and in Bridgeport, CT, in the United States. The company employs about 200 people.
"The acquisition of ...