Kennametal Celebrates 75 Years of Advancing Innovation
LATROBE, Pa., Feb. 28, 2013 /CNW/ - Kennametal Inc. (NYSE: KMT) marks its 75th year as an industrial technology leader, delivering productivity, innovation and performance around the world in the aerospace, earthworks, energy, industrial production and transportation industries.
Founded in 1938, Philip McKenna's breakthrough invention of tungsten-titanium carbide alloys started a company of 12 employees and $30,000 in revenues in its first year. Since then, the company he founded — subsequently renamed Kennametal — has grown 100,000-fold to nearly $3 billion in revenues, serving more than 80,000 customers in 60-plus countries.
The company's success today holds true to McKenna's focus on continuously improving customers' productivity. Kennametal industrial technologies today enable advanced manufacturing; effective road rehabilitation; safe, efficient mining and energy production; and peak performance in transportation equipment, from planes, to trains and automobiles.
"We drive a strong culture of innovation and performance at Kennametal, starting with knowledgeable people and proprietary material science to develop better tooling technologies and engineered components for the world's most demanding work," said Carlos Cardoso, Kennametal chairman, president and CEO. "Today, we consistently achieve 40 percent or more of sales each year from new products that offer customers at least 20 percent performance improvement."
March 1st begins a year-long celebration with various activities planned throughout the globe. Visit Kennametal's website to learn more about the company's history and present-day success.
Celebrating its 75th year as an industrial technology leader, Kennametal Inc. delivers productivity to customers seeking peak performance in demanding environments. The company provides innovative wear-resistant products and application engineering backed by advanced material science, serving customers in 60 countries across diverse sectors of aerospace, earthworks, energy, industrial production, transportation and infrastructure. With approximately 13,000 employees and nearly $3 billion in sales, the company realizes half of its revenue from outside North America, and 40% globally from innovations introduced in the past five years. Recognized among the "World's Most Ethical Companies" (Ethisphere); "Outstanding Corporate Innovator" (Product Development Management Association); and "America's Safest Companies" (EHS Today) with a focus on 100% safety, Kennametal and its foundation invest in technical education, industrial technologies and material science to deliver the promise of progress and economic prosperity to people everywhere. For more information, visit the company's website at www.kennametal.com.
SOURCE: Kennametal Inc.For further information:
Media Relations, Christina Sutter, +1-724-539-5708, or Investor Relations, Quynh McGuire, +1-724-539-6559
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