Kennametal Recognized for Innovation, 30-Year Collaboration with BMW
LATROBE, Pennsylvania, Nov. 19, 2014 /PRNewswire/ -- Kennametal Inc. (NYSE: KMT) today announced that the company was among three suppliers recognized at the 2014 BMW Supplier Innovation Awards in the productivity category.
Kennametal, the only tooling supplier to be nominated for the award, also was recognized for more than 30 years of partnership with BMW. Among reasons BMW cited for the honor was innovative new tooling that increased productivity in the manufacture of engine blocks at BMW's Steyr, Austria production facility. Kennametal devotes an engineered solutions team to collaborate with BMW on such productivity-enhancing refinements.
"We are honored to have been recognized among more than 200 suppliers at BMW's supplier awards," said Gérald Goubau, vice president and general manager of Kennametal's tooling business. "It is a great affirmation and reminder of our mission to provide innovation that customers value; something we strive to do every day."
The BMW Group considers innovation the foundation of a company's economic success and future competitiveness. The only way to master the challenges ahead for the automobile industry is through a high level of creativity and inventiveness. The BMW Group therefore recognizes its most innovative suppliers as key partners who play a crucial role in the successful implementation of new developments. The Supplier Innovation Award is designed to pay tribute to their achievements.
About Kennametal Inc.
Celebrating more than 75 years as an industrial technology leader, Kennametal Inc. delivers productivity to customers seeking peak performance in demanding environments. The company provides innovative wear-resistant products, application engineering and services backed by advanced material science, serving customers in 60 countries across diverse sectors of aerospace, earthworks, energy, industrial production, transportation and infrastructure. With approximately 14,000 employees and nearly $3 billion in sales, the company realizes half of its revenue from outside North America, and 40% globally from innovations introduced in the past five years. Recognized among the "World's Most Ethical Companies" (Ethisphere); "Outstanding Corporate Innovator" (Product Development Management Association); and "America's Safest Companies" (EHS Today) with a focus on 100% safety, Kennametal and its foundation invest in technical education, industrial technologies and material science to deliver the promise of progress and economic prosperity to people everywhere. For more information, visit the company's website at www.kennametal.com.
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