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Kennametal, Inc. is a manufacturer of high-performance cutting tools and engineered components used in the aerospace, defense, transportation and oil and gas drilling industries. Its customer base is global.
The company later moved its headquarters to Plainview, New York. In 1970, Manhattan Supply Company was acquired and, in 1998, moved its headquarters to Melville, New York, on Long Island. The company currently operates from five regional Customer Fulfillment Centers and 12 [4] branch offices. [5] In 1997 MSC acquired Enco Manufacturing Company. [6]
Cardoso joined Kennametal from Flowserve in April 2003 as the President of the Metalworking Division and in January 2005 was promoted to Chief Operating Officer. In December 2005 Cardoso became a President and CEO of the Corporation and in 2008 took an additional role of Chairman of the Board of Directors. [ 12 ]
The 10-second takeaway For the quarter ended March 31 (Q3), Kennametal missed estimates on revenues and missed estimates on earnings per share. Compared The Gory Details on Kennametal's Double Fumble
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Stellite alloys are a family of completely non-magnetic and corrosion-resistant cobalt alloys of various compositions that have been optimised for different uses. Stellite alloys are suited for cutting tools, an example is Stellite 100, because this alloy is quite hard, maintains a good cutting edge at high temperature, and resists hardening and annealing.
The company is going for restructuring, and hence the 1200 job cuts at Kennametal are being justified as a part of this restructuring exercise. Other news about Kennametal layoffs: The company had plans to layoff 1,125 employees. But the company has ended up firing 1,380 employees, or about 30 percent of its total workforce.
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