US EditionKennametal Announces Sale of Subsidiary in Goshen, IN
- On June 7, 2025, Kennametal finalized the divestiture of its Goshen, Indiana subsidiary, Kennametal Stellite, L.P., transferring ownership to a private equity firm headquartered in Chicago.
- Kennametal sold this subsidiary, which represents less than 2% of its total sales in the Infrastructure segment, to support a strategic portfolio adjustment.
- Kennametal Stellite, L.P., a Goshen-based subsidiary, operated within markets related to coatings and welding but contributed minimally to the company’s overall sales and profitability.
- Kennametal received $19 million at closing from the sale and plans to allocate the funds toward general corporate needs. CEO Sanjay Chowbey noted that this move helps mitigate fluctuations in material costs and allows the company to concentrate on long-term strategic priorities.
- The sale could generate further financial gains linked to an earn-out mechanism based on EBITDA performance over a period of three years, despite incurring a negligible pre-tax loss at the time of closing.
34 Articles
34 Articles
Kennametal Announces Sale of Subsidiary in Goshen_ IN (Form 8-K) (Kennametal Inc)
) Kennametal Announces Sale of Subsidiary in Goshen, IN PITTSBURGH, PA, June 6, 2025 - Kennametal Inc. (NYSE: KMT) today announced that it has completed the sale of its business in Goshen, IN. "This portfolio action is an important step toward improving our overall sales mix, reducing material cost volatility and focusing our resources on long-term strategic priorities that create greater value for all our stakeholders," said Kennametal Presiden…
Kennametal Announces Sale of Subsidiary in Goshen, IN - PressReach
PITTSBURGH, June 6, 2025 /PRNewswire/ — Kennametal Inc. (NYSE: KMT) today announced that it has completed the sale of its business in Goshen, IN. “This portfolio action is an important step toward improving our overall sales mix, reducing material cost volatility and focusing our resources on long-term strategic priorities that create greater value for all our stakeholders,” said Kennametal President & CEO Sanjay Chowbey. Kennametal received $1…
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