Kennametal announces plant closures and headcount cuts; expects $25M pre-tax charges

KENNAMETAL INC

Closing Greenfield, MA facility; ops cease April 2025, substantial completion by Dec 31, 2025.
Consolidating two Barcelona, Spain facilities into one; completion by June 30, 2025.
Global professional headcount reduction to mitigate softer EMEA market conditions.
Pre-tax charges of ~$25M ($10M cash facilities, $10M severance cash, $5M non-cash).
Targeting ~$15M annualized pre-tax run-rate savings by end of Fiscal 2025.

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