Kennametal Widia India Ltd. (formerly known as Widia India Ltd.) was established on September 21, 1964. The company's primary operations involve manufacturing and trading of hard metal products, as well as the production of capital-intensive machinery, fixtures, and spare parts. Its manufacturing facility is located in Bengaluru, and it distributes its products and services through sales and support offices.
Originally promoted by Meturit, Switzerland, in association with Fried Krupp Widia Fabrik unit of Krupp Group, Germany, and Sak Industries, Switzerland, Kennametal Widia India Ltd. saw Meturit, Switzerland, holding a significant 88.16% stake. In 1994, the company was acquired by Cincinnati Milacron, US.
Subsequently, the company underwent various changes, including the merger of its wholly owned subsidiary, Widaroc (India), in January 1995, and a stock split in 2000-01. It also introduced several innovative products, such as new generation milling cutters, special solid carbide tools, and coated inserts, catering to various industries like the bearing and automotive sectors.
In March 2004, the Mining and Construction Tools business of the company was divested to Sandvik Smith A.B/ its subsidiary for a cash consideration of Rs.64.9 crores. Further corporate rebranding took place in 2005, changing the company's name to Kennametal India Limited.
Throughout its journey, the company focused on expansion and technological advancements. For instance, in 2004-05, it increased the capacity of hard metal products and special purpose machines. Moreover, regrinding centers were established in various locations such as Jamshedpur, Pune, and Gurgaon in subsequent years.
Kennametal Inc., the promoter of the company, divested equity shares in March 2013, increasing public shareholding from 11.84% to 25% of the total paid-up share capital.
In 2020, the company launched a range of new products under the 'INNOVATIONs' for the Kennametal brand and 'ADVANCES' for the Widia brand, catering to diverse machining needs across industries. These products included digital boring solutions, milling tools, high-performance drills, and machining solutions for various materials.
Lastly, in December 2020, the company's Board of Directors approved a Scheme of Amalgamation for the merger of its wholly-owned subsidiary, WIDIA India Tooling Private Limited (WITPL), with Kennametal India Limited, effective from April 1, 2021.
Originally promoted by Meturit, Switzerland, in association with Fried Krupp Widia Fabrik unit of Krupp Group, Germany, and Sak Industries, Switzerland, Kennametal Widia India Ltd. saw Meturit, Switzerland, holding a significant 88.16% stake. In 1994, the company was acquired by Cincinnati Milacron, US.
Subsequently, the company underwent various changes, including the merger of its wholly owned subsidiary, Widaroc (India), in January 1995, and a stock split in 2000-01. It also introduced several innovative products, such as new generation milling cutters, special solid carbide tools, and coated inserts, catering to various industries like the bearing and automotive sectors.
In March 2004, the Mining and Construction Tools business of the company was divested to Sandvik Smith A.B/ its subsidiary for a cash consideration of Rs.64.9 crores. Further corporate rebranding took place in 2005, changing the company's name to Kennametal India Limited.
Throughout its journey, the company focused on expansion and technological advancements. For instance, in 2004-05, it increased the capacity of hard metal products and special purpose machines. Moreover, regrinding centers were established in various locations such as Jamshedpur, Pune, and Gurgaon in subsequent years.
Kennametal Inc., the promoter of the company, divested equity shares in March 2013, increasing public shareholding from 11.84% to 25% of the total paid-up share capital.
In 2020, the company launched a range of new products under the 'INNOVATIONs' for the Kennametal brand and 'ADVANCES' for the Widia brand, catering to diverse machining needs across industries. These products included digital boring solutions, milling tools, high-performance drills, and machining solutions for various materials.
Lastly, in December 2020, the company's Board of Directors approved a Scheme of Amalgamation for the merger of its wholly-owned subsidiary, WIDIA India Tooling Private Limited (WITPL), with Kennametal India Limited, effective from April 1, 2021.
