Kennametal Inc. announced Thursday its acquisition of Purity Metal Holdings, Inc. and its wholly-owned subsidiary, International Specialty Alloys, Inc. (ISA).
The sale is scheduled to be completed in April 2007.
German-based ISA, a manufacturer of high-purity specialty metal products for the aerospace, defense and super alloy industries, will become a part of Kennametal's Advanced Materials Solutions Group (AMSG).
According to Kennametal, the acquisition is part of the company's growth and investment strategy, which includes expanding AMSG to eventually represent 50 percent of its business.
ISA's top management people will continue in the business, said Jim McRickard, vice president and general manager of Kennametal's Engineered Products Group.
Kennametal, headquartered in Latrobe, Pa., supplies tooling, engineered components and advanced materials for production processes.