Printer Friendly

KENNAMETAL ANNOUNCES APPROVAL BY HERTEL AG SHAREHOLDERS

 LATROBE, Pa., Dec. 6 /PRNewswire/ -- Kennametal Inc. (NYSE: KMT) announced today that the six designees who Kennametal proposed for election to Hertel's supervisory board were elected and that the Domination Agreement between Kennametal and its recently acquired 81 percent subsidiary, Hertel AG, was approved by the shareholders of Hertel.
 The Domination Agreement is part of the process of integrating Hertel with Kennametal and permits Kennametal to operate Hertel, in effect as a wholly owned subsidiary under German law. Two protests were filed by minority shareholders under German law with respect to the Domination Agreement's approval, but should not have a material adverse affect on the integration of Hertel with Kennametal.
 -0- 12/6/93
 /CONTACT: Mike Godfrey of Kennametal, 412-539-5135/
 (KMT)


CO: Kennametal Inc.; Hertel AG ST: Pennsylvania IN: MNG SU:

KC -- PG018 -- 0941 12/06/93 16:27 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 6, 1993
Words:140
Previous Article:LAUREL SAVINGS ASSOCIATION COMPLETES HOLDING COMPANY REORGANIZATION
Next Article:ROHM AND HAAS COMPANY ELECTS NINE VICE PRESIDENTS
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters