Kennametal was founded in 1938 in Latrobe, Pennsylvania by Philip M. McKenna. McKenna invented a tungsten-titanium carbide alloy for cutting tools that cut faster and were more durable than traditional tools.
During its first year the company, then called McKenna’s Metals Company, had $30,000 in sales and 12 employees. However, when the US entered World War II, demand for these products increased and McKenna’s Metals soon had annual sales of $10 million and 900 employees.
Today Kennametal produces tools and supplies for machining steel, mining and highway construction equipment, and engineering services. The company has clients globally in the aerospace, defense, energy, engineering, mining, and transportation industries.
Kennametal is pubicly traded on the New York Stock Exchange under the ticker symbol KMT, is a member of the S&P 400, is #814 in the Fortune 1000, has 13,521 employees, and had $2.90 billion in sales in 2014.