signed a definitive agreement to sell its Kemmer Praezision Electronics business to KPAC.
Terms weren't disclosed, but the Latrobe, Pa., company expects the sale of the division to result in a loss of 45 cents to 50 cents a share.
KPAC will acquire the North American, European,and Asia-Pacific assets and operations of the business, which makes quality tungsten carbide consumable tools for the printed circuit board market.
The deal is expected to close by September.
In March, the company announced the planned sale of its J & L Industrial Supply business to tools and industrial supplies marketer
MSC Industrial Direct
for $349.5 million. Kennametal also sold its U.K.-based Presto brand high speed steel assets to Suncraft International for an undisclosed sum.
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