Kennametal Inc. (NYSE:KMT) Files An 8-K Costs Associated with Exit or Disposal Activities
Item 2.05 Costs Associated with Exit or Disposal Activities.
Kennametal Inc. (NYSE:KMT) Files An 8-K Costs Associated with Exit or Disposal Activities
On July 11, 2019, Kennametal Inc. (“Kennametal”) announced the initiation of restructuring actions in Germany associated with simplification/modernization. Incremental to restructuring actions previously announced, the actions are expected to reduce structural costs and are currently estimated to achieve $25 million to $30 million of annualized savings by completion in fiscal 2022. Kennametal is expected to incur pre-tax charges of $60 million to $75 million through fiscal 2020 and 2021 for these actions, which are anticipated to be primarily cash expenditures.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
99.1 Press Release dated July 11, 2019
KENNAMETAL INC Exhibit
EX-99.1 2 kmt7112019exhibit991.htm EXHIBIT 99.1 Exhibit Exhibit 99.1FOR IMMEDIATE RELEASE:DATE: July 11,…
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EX-99.1 2 kmt7112019exhibit991.htm EXHIBIT 99.1 Exhibit Exhibit 99.1FOR IMMEDIATE RELEASE:DATE: July 11,…
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About Kennametal Inc. (NYSE:KMT)
Kennametal Inc. is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Industrial segment generally serves customers that operate in industrial end markets, such as transportation, general engineering, aerospace and defense. The Infrastructure segment generally serves customers that operate in the earthworks and energy sectors supporting primary industries, such as oil and gas, power generation, underground, surface and hard-rock mining, highway construction and road maintenance. It provides wear-resistant products, application engineering and services backed by material science serving customers across various sectors. The Company’s product offerings include a selection of standard and customized technologies for metalworking, such as metal cutting tools, tooling systems and services, as well as materials, such as cemented tungsten carbide products and super alloys.