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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.
In 2017, MSC acquired DECO Tool Supply Co., an industrial supply distributor based in Davenport, Iowa, to expand its footprint in the region. In 2018, MSC acquired All Integrated Solutions, a value-added distributor of industrial fasteners and components, MRO supplies and assembly tools based in Franksville, Wisconsin.
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Over 60 years, JEGS has expanded to include a 250,000-square-foot (23,000 m 2) warehouse, two mail order locations, retail store & Team JEGS Race Team. The company has approximately 350 employees. The company has approximately 350 employees.
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Summit Racing Equipment is an automotive parts retailer with four retail stores and distribution centers located in Tallmadge, Ohio; Sparks, Nevada; McDonough, Georgia; and Arlington, Texas. Summit Racing Equipment is also involved in motorsports and other events as a sponsor.
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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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