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US: Metals firms complete $600M merger

 |  November 4, 2013

Kennametal Inc. said today it has finalized its buyout of Tungsten Materials for $605 million, according to a press release.

The deal, first announced last September, has Kennametal acquire the company from Allegheny Technologies Incorporated.

Kennametal head Carlos Cardoso said the company is “delighted” to finalize the deal, which expands the firm from its recent buyouts of Emura and Stellite.

According to the press release, the most recent acquisition expands Kennametal’s operations within the aerospace and energy sectors.

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