PITTSBURGH, June 6, 2025 — Kennametal Inc. (NYSE: KMT) announced today the completion of the sale of its Goshen, IN, business.
According to Kennametal President & CEO Sanjay Chowbey, this strategic move will help improve the company’s sales composition, lower raw material cost fluctuations, and allow the company to concentrate on key long-term strategic goals that will benefit all stakeholders.
Kennametal received $19 million from the deal at closing, resulting in a minor pre-tax loss. These funds are subject to standard post-closing adjustments and a potential EBITDA-based payout for Kennametal at the end of three years. The company intends to use the proceeds for general corporate activities. A Chicago-based private equity firm purchased the Goshen subsidiary.
The Goshen subsidiary, known as Kennametal Stellite, L.P., provides surface coating and welding products in Kennametal’s Infrastructure segment. It accounts for less than 2% of Kennametal’s total sales and has little impact on Kennametal’s profitability.
About Kennametal
Kennametal Inc., a leader in industrial technology for over 85 years, boosts customer productivity with materials science, tooling, and wear-resistant solutions. Clients in industries like aerospace and defense, earthworks, energy, general engineering, and transportation rely on Kennametal for precision and efficiency in manufacturing. Approximately 8,400 employees worldwide help customers in nearly 100 countries stay competitive. In fiscal year 2024, Kennametal generated $2 billion in revenue. For more information, visit kennametal.com and follow @Kennametal on Instagram, Facebook, LinkedIn, and YouTube.
This release contains forward-looking statements as defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements, which are not based on historical or current facts, include those concerning Kennametal’s expectations for future growth and financial performance. These forward-looking statements are based on current knowledge, expectations, and estimates that involve risks and uncertainties. Actual results may differ significantly from current expectations if these risks or uncertainties materialize or if underlying assumptions are incorrect. Factors that could cause actual results to differ include: macroeconomic and global conditions, such as increased inflation, tariffs, the conflict in Ukraine and related sanctions on Russia, and the conflict in the Middle East; economic recession; the company’s ability to achieve the anticipated benefits of restructuring, simplification, and modernization initiatives; Commercial Excellence growth initiatives; Operational Excellence initiatives; foreign operations and international markets, including currency exchange rates, regulatory environments, trade barriers, exchange controls, and political instability, including the conflicts in Ukraine and the Middle East; changes in environmental, health, and safety regulations; potential for future charges related to goodwill and other intangible assets; the company’s ability to protect its intellectual property; continuity of information technology infrastructure; competition; the company’s ability to retain management and employees; demands on management resources; availability and cost of raw materials; product liability claims; integrating acquisitions and achieving expected savings and synergies; global or regional catastrophic events; demand for and market acceptance of the company’s products; business divestitures; energy costs; commodity prices; labor relations; and implementation of environmental remediation matters. These and other risks are detailed in Kennametal’s latest annual report on Form 10-K and other filings with the Securities and Exchange Commission. The company provides no assurance that the goals or plans in forward-looking statements can be achieved and cautions readers against placing undue reliance on these statements, which are relevant only as of the date made. The company undertakes no obligation to publicly revise any forward-looking statements due to future events or developments.
SOURCE Kennametal Inc.
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