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US cutting tool maker acquires Sintec Group
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Kennametal UK product story
Edited by the Manufacturingtalk editorial team
Jun 20, 2006
Kennametal has signed a definitive agreement to purchase the Sintec Group, which manufactures ceramic engineered components used in the aerospace and general engineering.
Kennametal, USA, has announced that is has signed a definitive agreement to purchase the Sintec Group, headquartered in Buching, Germany.
The transaction, which is expected to close by June 30, 2006, remains subject to customary regulatory approval and negotiated conditions of closing.
The Sintec Group was founded in 1980 and has operations in Schongau and Buching, Germany, Biel, Switzerland, Shanghai, China, Newport, UK, and in Bridgeport, Connecticut in the United States.
The company employs about 200 people across its facilities.
Sintec Group manufactures ceramic engineered components used in the aerospace, general engineering, metallizing and medical markets, among others.
This technology complements Kennametal's core knowledge of materials science.
This acquisition represents Kennametal's commitment to continually develop breakthrough technology in order to enhance its value proposition to its customers.
The acquisition of the Sintec Group is directly in line with Kennametal's strategy to grow both organically and through acquisitions in the advanced materials and engineered components space.
Kennametal has a core competency in ceramics systems in the metalcutting industry, where it is one of the market leaders.
This acquisition will take the company into adjacent technological and geographic markets, allowing us to expand our competency in non-metalcutting ceramics.
Kennametal has previously announced its intention to grow this business to become a strong second leg of its total portfolio.
* About Kennametal - Kennametal (NYSE:KMT) is a leading global supplier of tooling, engineered components and advanced materials consumed in production processes.
The company improves customers' competitiveness by providing superior economic returns through the delivery of application knowledge and advanced technology to master the toughest of materials application demands.
Companies producing everything from airframes to coal, from medical implants to oil wells and from turbochargers to motorcycle parts recognize Kennametal for extraordinary contributions to their value chains.
Customers buy over US$2.3 billion annually of Kennametal products and services - delivered by our 14,000 talented employees in over 60 countries - with almost 50 percent of these revenues coming from outside the United States.
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