Kennametal Announces Sale of Subsidiary in Goshen, IN

Core Viewpoint - Kennametal Inc. has completed the sale of its Goshen, IN business, which is a strategic move aimed at improving sales mix, reducing material cost volatility, and focusing on long-term priorities to enhance stakeholder value [1][2]. Financial Summary - The company received $19 million from the transaction, resulting in an immaterial pre-tax loss. The proceeds are subject to customary post-closing adjustments and an EBITDA-based earn-out opportunity after three years [2]. - The proceeds from the sale are expected to be used for general corporate purposes [2]. Business Impact - The Goshen subsidiary, Kennametal Stellite, L.P., serves the surface coating and welding products markets and represents less than 2% of Kennametal's total sales, making it immaterial to the company's overall profitability [3]. Company Overview - Kennametal Inc. has over 85 years of experience as an industrial technology leader, providing productivity solutions through materials science and tooling [4]. - The company generated $2 billion in revenues in fiscal 2024 and employs approximately 8,400 people across nearly 100 countries [4].