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KENNAMETAL ANNOUNCES RATIONALIZATION OF MANUFACTURING IN GERMANY

 LATROBE, Pa., Sept. 3 /PRNewswire/ -- Kennametal Inc. (NYSE: KMT) announced today that the company will rationalize manufacturing and warehousing in Germany to improve the company's future financial performance.
 The company intends to close its Neunkirchen manufacturing and warehousing facility and transfer those operations to other facilities. As a result of this action, the workforce in Germany will be reduced by approximately 185 employees. The closure is expected to be completed by June 1994.
 This is one of a number of integration actions relating to the acquisition of Hertel AG. All such integration actions will result in the recognition of a special charge in the first quarter of fiscal year 1994 totaling $15 million to $20 million, for which only limited tax benefits are available. The closure of the Neunkirchen facility represents a significant portion of the special charge.
 /delval/
 -0- 9/3/93
 /CONTACT: Michael J. Mussog, manager, external reporting, of Kennametal, 412-539-4617/
 (KMT)


CO: Kennametal Inc. ST: Pennsylvania IN: MNG SU:

CD -- PG003 -- 8704 09/03/93 08:41 EDT
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Publication:PR Newswire
Date:Sep 3, 1993
Words:171
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