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.