Kennametal Expands Presence in European Markets
Product DetailsKennametal 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. ...