Kennametal (KMT) said Tuesday it plans to close a facility in Greenfield, Massachusetts, and consolidate two sites near Barcelona, Spain, into a single facility within its metal cutting segment.
The company expects the Greenfield plant closure to be substantially complete by Dec. 31, while the consolidation of the Barcelona facilities is likely to be complete by June 30, according to a filing with the US Securities and Exchange Commission.
Kennametal also said it will remove "certain professional headcount" globally to mitigate softer market conditions, especially in Europe, the Middle East, and Africa.
The company expects the actions to yield annualized run rate pretax savings of about $15 million by the end of fiscal 2025. Kennametal expects to incur about $25 million of pretax charges in connection with the actions, the filing showed.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。