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Kennametal will sell steel drilling business

Source: Internet
Author: User
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Beijing time Tuesday Evening News, metal cutting tools and road Equipment Manufacturers Kennametal Inc., said the high-speed steel drilling business will be sold to the top eastern Drill Co.　　The company said it would receive 29 million of billions of dollars from the deal and would include a pre-tax loss of $30 million to $33 million, most of which would be credited to the fiscal quarter ending June 30.　　The deal is expected to be completed by June. The sale includes 4 factories in Georgia Evans, South Carolina State's Clemson, Mississauga in Canada Ontario Prov., and Mexico City. The 4 plants have a total of about 400 employees.

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