Kennametal to Expand Tungsten-Cobalt Blended Powder Operations

Kennametal Inc. (NYSE:KMT) announced expansion of its tungsten-cobalt blended powder operations at its Tianjin, China facility.

As quoted in the press release:

By adding tungsten-cobalt blended powder capacity in Tianjin close to China’s source mines, the company expects to streamline customer service in that region while reducing export delays and duties on the material. The company noted that initial capital plans for these projects are included in its FY13 forecast.

Kennametal’s President and Chairman and CEO, Carlos Cardoso, said:

We’re talking about a high-tech operation where we’ll process used materials to develop new compounds essential to our industrial technology. This is an exciting first for our company, demonstrating our commitment to invest in sustainability and advanced technology strengthening our leadership in America, and our service to customers around the world.

To view the whole press release, click here.