Kennametal buys European, Indian businesses

Metalcutting tools manufacturer/marketer Kennametal is buying the European and Indian metalcutting supplies businesses of Milacron for $170 million. Kennametal is the parent company of the J&L America industrial supplies catalog.

The businesses being bought include Germany-based Widia and Werko, which had combined sales of roughly $240 million last year. Latrobe, PA-based Kennametal sees the acquisition as a way of expanding intothe Asian markets.

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