Kennametal completes buy of Tungsten Materials

Kennametal completes acquisition of Tungsten Materials for $605 million

Associated Press

LATROBE, Pa. (AP) -- Kennametal Inc., which provides vehicle, aerospace and machinery makers with materials and engineered products, said Monday that it completed the acquisition of Tungsten Materials for $605 million.

The acquisition from Allegheny Technologies Inc. was first announced on Sept. 16. Tungsten Materials produces and recycles tungsten.

Kennametal said the acquisition will help expand its metallurgical strategy and reduce previously planned capital expenses. It will outline expected cost savings from the transaction during a presentation Wednesday.

Shares rose 8 cents to $46.18 in morning trading.

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