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Kennametal invests in tungsten supply strategy

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KMT $34.98 -$0.07

at close on THURSDAY

Thursday, Nov. 15, 2012, 4:36 p.m.

Kennametal Inc. said it is evaluating plans and potential locations for an advanced carbide recycling facility in the United States to serve global markets.

The Unity-based tooling company also will expand a tungsten-cobalt blended powder operation at its existing facility in Tianjin, China, to serve the Asia-Pacific region.

The two projects were described by Kennametal as “multiyear” plans to diversify the company's tungsten supply, reduce costs, improve access to raw materials, and support a plan to get one-third of revenue each from North America, Europe and Asia and the rest of the world.

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