Pittsburgh-based tooling supplier Kennametal announced Thursday that, effective June 14, it will have a new president of its Metal Cutting division.
Sanjay Chowbey will take over leadership of that unit, having served as president of services and solutions at Flowserve since July 2019.
"Sanjay brings more than 20 years of experience in P&L roles for global industrial companies, like Flowserve and Danaher, making him well suited to continue the advancement of our Metal Cutting strategic initiatives," said Christopher Rossi, Kennametal president and CEO.
Rossi added: "Sanjay will play a critical role in the ongoing transformation of the Metal Cutting business and execution of the current strategy. His considerable experience in sales, marketing and operations makes him the ideal person to lead the business as we work to leverage our newly modernized manufacturing processes to drive growth, share gain and improved financial performance throughout the economic cycle."
On May 3, Kennametal reported financial results for its 2021 third quarter that ended March 31, showing that sales of $485 million were flat year-over-year ($483M in Q1 2020) and up approximately 10 percent sequentially from the company's Q2. Organic sales were down 1 percent year-over-year. Q3 operating profit of $40 million was up slightly from $38 million a year earlier, while operating margin improved 40 basis points to 8.2 percent. Adjusted Q3 operating profit was $42 million, on 8.6 percent margin, compared to $59 million and12.2 percent margin a year earlier.
By business segment in Q3
- Metal Cutting sales of $308 million increased 2 percent year-over-year and increased 9 percent sequentially. Operating profit was $23 million on 7.4 percent margin, compared to $17 million and 5.5 percent margin a year earlier.
- Infrastructure sales of $177 million decreased 2 percent year-over-year and increased 12 percent sequentially. Operating profit was $18 million on 10.4 percent margin, compared to $22 million and 12.2 percent margin a year earlier.