Gardner Denver, a Wisconsin-based flow control technology company, recently became Kennametal Inc.’s latest authorized distributor.
Under the multimillion-dollar distribution agreement, Gardner Denver will distribute Kennametal’s KennaFlow solid tungsten carbide valve seats for fracturing pumps.
Valves and seats are used in hydraulic fracturing pumps, and there is a demand for components that provide superior abrasion resistance and longer life.
KennaFlow seats have an operating life of up to 1100 hours compared to a traditional steel seat, according to the company.
“At Gardner Denver, we’re in the business of delivering solutions that help solve our customers’ biggest operational challenges,” Greg Hash, Gardner Denver Pumps vice president of engineering, said. “Longer wear KennaFlow seats are a huge leap forward in flow technology for fracking, and we’re proud to partner with Kennametal to bring these to the oil and gas market.”
Pittsburgh-based Kennametal had a profit of $70.1 million for the quarter ending March 31, a $53.1 million increase from 2018. This is despite sales dropping $10.7 million from last year.
The company attributes a 4 percent unfavorable currency exchange rate for the decrease.
The company soon will be restructuring, a move it forecasts it will save $35 million to $40 million by the end of fiscal 2020.