P.M. BRIEFING : Kennametal Inc. to Acquire Garrett
<i> From Times wire services</i>
LATROBE, Pa. —
Kennametal Inc. today announced it will acquire Garrett Industrial Supply of Los Angeles for $29 million cash.
The deal for the subsidiary of Allied-Signal Inc. also includes the assumption of certain health care liabilities, Kennametal said.
Garrett is one of the largest distributors of industrial tools and supplies in the United States. It has warehousing and shipping facilities primarily in the southwestern United States.
