Kennametal Resumes Operations After Tornado

Kennametal Inc. (NYSE: KMT) has announced the resumption of operations at its facility in Rogers, AR, following a shutdown due to damage from a tornado on May 26. The facility, which supports the company’s Infrastructure segment, produces engineered carbide wear components primarily serving the Energy, General Engineering, and Earthworks end markets, as well as rods used in the manufacturing of certain round tools for the Metal Cutting segment.

As a result of the tornado, the company is currently assessing the financial effects of the storm and working with its insurance carrier. The restart of the Rogers facility was attributed to the teamwork of the local team and support from expert resources across the entire organization, according to Sanjay Chowbey, President and CEO of Kennametal Inc.

In fiscal 2023, Kennametal generated $2.1 billion in revenues and has approximately 8,700 employees helping customers in nearly 100 countries. As a result of these announcements, the company's shares have moved 0.0% on the market, and are now trading at a price of $24.44. Check out the company's full 8-K submission here.

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