LATROBE, Pa., March 16, 2012 /PRNewswire/ -- Kennametal Inc. (NYSE: KMT) announced today that it has been named one of the World's Most Ethical Companies by The Ethisphere Institute, a leading international think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability.
Kennametal was selected among the World's Most Ethical Companies for exhibiting leadership in promoting ethical business standards throughout its global operations and turning ethics into action by introducing innovative ideas and better business practices.
"At Kennametal, ethics and integrity begin with our people and we are honored to be recognized as one of the world's most ethical companies," commented Carlos Cardoso, Kennametal Chairman, President and CEO. "As a supplier of choice for our customers, and an employer of choice for our employees, ethics is at the core of our Kennametal Value Business System. We believe a sustainable business enterprise recognizes the need to stay current with market conditions and stakeholder expectations, while respecting the needs and interests of the communities in which we live and work. This recognition emphasizes our commitment to maintaining the reputation and well-being of our company and its employees by making a difference through doing the right thing every day."
Through in-depth research and a multi-step analysis, Ethisphere reviewed nominations from companies in more than 100 countries and 36 industries. Now in its sixth year of the program, Ethisphere received a record number of nominations and applications.
"Each year the competition for World's Most Ethical Companies intensifies as the number of nominations submitted for consideration grows," said Alex Brigham, Executive Director of Ethisphere. "This year's winners know that a strong ethics program is a key component to a successful business model, and they continue to scrutinize their ethical standards to keep up with an ever-changing regulatory environment."
Kennametal Inc. (NYSE: KMT) delivers productivity to customers seeking peak performance in demanding environments by providing innovative custom and standard wear-resistant solutions. This proven productivity is enabled through our advanced materials sciences and application knowledge. Our commitment to a sustainable environment provides additional value to our customers. Companies operating in everything from airframes to coal mining, from engines to oil wells and from turbochargers to construction recognize Kennametal for extraordinary contributions to their value chains. In fiscal year 2011, customers bought approximately $2.4 billion of Kennametal products and services – delivered by approximately 12,000 talented employees doing business in more than 60 countries – with more than 50 percent of these revenues coming from outside North America. Visit us at www.kennametal.com.
SOURCE Kennametal Inc.
Media Relations, Christina Reitano, +1-724-539-5708, or Investor Relations, Quynh McGuire, +1-724-539-6559