KMT

Kennametal Facility in Rogers, AR Damaged by Tornado

Kennametal Inc. (NYSE: KMT) has reported that its production facility in Rogers, AR, suffered damage from a tornado that struck the area. The facility, which was closed for the holiday weekend at the time, sustained the impact with no employees present. The company is currently evaluating the extent of the damage and has expressed solidarity with the affected employees and community.

The Rogers plant, which supports Kennametal's Infrastructure segment, produces engineered carbide wear components primarily serving the Energy, General Engineering, and Earthworks end markets. Additionally, it manufactures rods used in the production of certain round tools for the company's Metal Cutting segment. Kennametal is actively working to restore production and minimize any shipment delays to customers.

In the fiscal year 2023, Kennametal generated $2.1 billion in revenues and employs approximately 8,700 individuals, serving customers in nearly 100 countries across various industries, including aerospace and defense, earthworks, energy, general engineering, and transportation. As a result of these announcements, the company's shares have moved -2.0% on the market, and are now trading at a price of $24.38. If you want to know more, read the company's complete 8-K report here.

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