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Kennametal Acquires Bolivian Tungsten Firm

Source: Time:2013-05-30 16:20:11 frequency:

Kennametal Inc., based in Latrobe, Pa., has signed a definitive agreement to acquire the operating assets of La Paz, Bolivia-based Comercializadora Emura S.R.L. and certain related entities (Emura). Kennametal says the deal will help strengthen its material sourcing agreements. Emura is involved in collecting, testing, processing and exporting tungsten ore material. The company also is a longtime supplier to Kennametal.
Kennametal expects to complete the transaction in July 2013, subject to customary regulatory approvals and negotiated conditions.
According to a Kennametal release, the acquisition is part of its efforts to diversify and balance its tungsten sourcing capabilities, following its November 2012 announcement outlining plans to develop an advanced carbide recycling facility in the United States to serve global markets, while also adding tungsten-cobalt powder capabilities at its Tianjin, China, facility to serve growth in Asia.
“Tungsten is a key ingredient for the technologies we develop, and ultimately vital to virtually every kind of manufacturing,” says Carlos Cardoso, chairman, president and CEO. “We look forward to welcoming the employees of Emura to our company family, and adding these assets to serve customers with the most advanced capabilities in our industry.”
Emura currently supplies material Kennametal uses to produce composite alloys and high-performance cutting tools for earthworks applications. Kennametal says acquiring Emura will enhance its strategic sourcing of material to serve growth globally without incurring risks associated with owning mining operations.
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