NEW YORK Tool maker Kennametal Inc. is looking to build an advanced carbide recycling facility to recycle material from scrap and consumed products such as metal-cutting inserts, the company said Thursday.
"Were talking about a high-tech operation where well process used materials to develop new compounds essential to our industrial technology," Kennametal chairman, president and chief executive officer Carlos Cardoso said in a statement.
The company is also looking to expand tungsten-cobalt blended powder operations at its facility in Tianjin, China, in order to streamline customer service while reducing export delays and duties on the material, it said.
"Both multiyear projects focus on diversifying Kennametals tungsten sourcing to balance supplies, costs and access to raw materials, while also supporting sustainability and its global growth strategy to achieve one-third of revenues each from North America, Europe and Asia (and the) rest of (the) world," the company said, adding that "initial capital plans for these projects are included in its fiscal year 13 forecast."
Latrobe, Pa.-based Kennametal has in the past been a buyer of tungsten ores and concentrates from Fort Belvoir, Va.-based DLA Strategic Materials (amm.com, Aug. 29) and already runs a carbide recycling program, according to its website.
Ammonium paratungstate prices have fallen recently, with the material now trading between $310 and $340 per metric ton unit (mtu) compared with $320 to $340 per mtu previously, according to AMM sister publication Metal Bulletin.