Kennametal Named Again Among World's Most Ethical Companies
LATROBE, Pa., March 6, 2013 /PRNewswire/ -- Kennametal Inc. (NYSE: KMT) announced today that it has been named for the second year in a row as 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's global leadership exemplifies a company culture in which employees put ethics into action with consistent investment and performance toward 100% safety, environmental excellence and community engagement, as well as extensive efforts to advance technical education, material science and industrial technologies indispensable to next-generation manufacturing.
"To again be recognized as one of the world's most ethical companies is a great honor and tribute to Kennametal people everywhere," said Kennametal Chairman, President and CEO Carlos Cardoso. "Not only are we committed to be our best as corporate citizens; we are compelled to improve our performance continuously. That is what differentiates Kennametal as a leader."
In addition to extensive ethics training and communication with employees, Kennametal's efforts in the past year included a number of new records for the company in:
- Employee engagement, achieved at levels exceeding peer comparisons;
- Talent development, delivering technical training and professional development in record numbers to Kennametal employees, customers and supply chain partners worldwide;
- Safety, including two consecutive months with zero injuries requiring days away or restricted time (DART), key milestones toward the aim of keeping all employees and visitors 100% safe, 100% of the time;
- Community stewardship, including employee volunteerism and fundraising, from participation and support for the United Way in North America, to educational programs and service to community organizations worldwide;
- Environmental performance, including ISO 14001 certifications, waste reduction, recycling and management programs across the company's supply chain worldwide;
- Information technology, including industry-leading execution of standardized enterprise resource systems and processes; and
- Innovation, including consistently exceeding 40% of sales realized from new products, which offer at least 20% performance improvement.
Through in-depth research and a multi-step analysis, Ethisphere reviewed nominations from companies in more than 100 countries and 36 industries. Kennametal showcased exemplary standards in its code of ethics, investment in innovation and sustainable business practices as well as its activities designed to improve corporate citizenship.
"Not only did more companies apply for the World's Most Ethical Companies recognition this year than any year in the past, which demonstrates that ethical activity is an important part of many of these companies' business models, but we are also seeing more companies be proactive and create new initiatives that expand ethics programs and cultures across entire industries, such as industry-based ethics associations and other activities," said Alex Brigham, Executive Director of Ethisphere. "We are excited to see the 2013 World's Most Ethical Companies take these leadership positions, and embrace the correlation between ethical behavior and improved financial performance."
Celebrating its 75th year as an industrial technology leader, Kennametal Inc. delivers productivity to customers seeking peak performance in demanding environments. The company provides innovative wear-resistant products and application engineering backed by advanced material science, serving customers in 60 countries across diverse sectors of aerospace, earthworks, energy, industrial production, transportation and infrastructure. With approximately 13,000 employees and nearly $3 billion in sales, the company realizes half of its revenue from outside North America, and 40% globally from innovations introduced in the past five years. Recognized among the "World's Most Ethical Companies" (Ethisphere); "Outstanding Corporate Innovator" (Product Development Management Association); and "America's Safest Companies" (EHS Today) with a focus on 100% safety, Kennametal and its foundation invest in technical education, industrial technologies and material science to deliver the promise of progress and economic prosperity to people everywhere. For more information, visit the company's website at www.kennametal.com.
SOURCE Kennametal Inc.