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WIDIA history
WIDIA company history timeline
In 1928 Philip moved to Latrobe, Pennsylvania, to become research director at VASCO. At VASCO, Philip began to work with tantalum alloys in order to produce better steel-cutting tools than the tungsten carbide tools manufactured by other companies.
In 1936 an agreement was reached to create a new company, Vascoloy-Ramet, for the manufacture of tantalum carbide tools.
Sales in 1936 amounted to $450,000, but the new company was plagued with mismanagement and complaints from customers about tools that were poorly made.
McKenna Metals Birth in 1938 Leads to Kennnametal
In 1940, Polisher was the top reported job for people in the USA named Widia.
Although the firm was initially set up as a sole proprietorship to develop and manufacture tool materials, in 1940 Philip convinced his cousin Alex, his brother Donald, and other McKenna family members to join him as partners in the new company.
By the end of fiscal 1941, however, sales had skyrocketed to $999,000.
In 1941 the firm received its first order based on the Lend-Lease agreement between the United States and Britain.
In 1941 the firm received its first order based on the Lend-Lease agreement between the United States and Britain. It improved tooling for shell production at the same time that it developed a process that increased the production of tungsten carbine penetrators (the outer core of a shell casing made to pierce German tank armor). Kennametal's revenues increased to $7.55 million by the end of fiscal 1943.
The end of the war in 1945 triggered a decrease in orders from the United States government, and Kennametal's revenues suddenly dropped.
In 1946, the company introduced the Kendex line of mechanically held, indexable insert systems that accelerated tool changing and increased machining precision.
In 1946 the company started a virtual revolution in the metal cutting industry.
In 1958 the company expanded overseas with the creation of Kennametal Overseas Corporation.
The company incorporated in 1964 manufactures hard metal products mining tools special-purpose machines metal castings formings jigs and fixtures.
In 1964, Kennametal introduced tungsten-carbide-tipped Kengrip tire studs.
After legislation limited the use of carbide studs, Kennametal left the business in 1977.
By the end of fiscal 1979, sales had more than tripled, net income and earnings per share had quadrupled, and dividends had more than doubled.
1991: Kennametal spends $27 million to build its Corporate Technology Center.
In 1993 Kennametal purchased an 81-percent interest in Hertel AG, a German manufacturer of tooling systems.
In 1994 the company was taken over by Cincinnati Milacron US.The company's wholly owned subsidiary Widaroc (India) was merged with the company with effect from Jan'95.It has also introduced several new state of the art products.
JLK Direct was spun off from Kennametal in early 1997, roughly two years before McGeehan's retirement.
In November 2001, the company announced it was closing three manufacturing plants in an attempt to cut costs in the face of declining sales.
2004: Revenues reach a record high of $1.97 billion.
The history of WIDIA-GTD™ is rich in innovation August 24, 2017
At 1.79 million, demat accounts opened in June fewest since Feb 2021
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WIDIA competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Kennametal | 1938 | $2.0B | 10,000 | 129 |
| GARR TOOL | 1944 | $21.0M | 300 | 2 |
| K Tool Corporation | - | $580,000 | 25 | - |
| Niagara Cutter | 1954 | $530,000 | 7 | - |
| Phoenix Research Labs | 2007 | $180,000 | 5 | 2 |
| General DataComm | 1969 | $1.6M | 50 | - |
| CMD Technology | 1980 | $106.8M | 1,250 | - |
| Digital Control | 1990 | $101.0M | 134 | 9 |
| Custom Computer Systems | - | $1.7M | 50 | - |
| Eagle Test Systems | 1976 | $79.5M | 200 | - |
WIDIA history FAQs
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WIDIA may also be known as or be related to WIDIA, Widia Product Group and Widia Products Group.