Latrobe, Pennsylvanio - Kennametal Inc. officials announced that for the third year in a row, it has been named one of the World's Most Ethical Companies by The Ethisphere Institute, a leading independent organization dedicated to advancing and recognizing best practices in business ethics.
"To be recognized for a third time as one of the world's most ethical companies is an outstanding honor and speaks volumes about the dedicated, talented team we have at Kennametal," said Chairman, President and CEO Carlos Cardoso. "Our employees consistently demonstrate the values and beliefs that set Kennametal apart as a leader in industry, enabling us to give our best to our customers, shareholders, communities and everyone we serve."
In addition to extensive ethics training and communication with employees, Kennametal's efforts in past years have included a number of new records for the company in:
Employee engagement, exceeding peer comparisons with a record 91 percent employee participation consistent increases in engagement levels measured in the company's Voice of Employee survey;
Talent development, delivering nearly 100 technical training programs to more than 2,500 people, including customers and distributors through The Kennametal Knowledge Center;
Safety, including key milestones as more than half of the company's facilities achieved the aim of keeping all employees and visitors 100% safe, 100% of the time;
Commitment to Integrity, with 100% participation globally in the company's quarterly business ethics and compliance training modules;
Community stewardship, including more than 2,100 hours donated by more than 1,200 employee volunteers worldwide and record contributions to community organizations such as the United Way; and
Innovation, consistently exceeding 40% of sales realized from new products that offer customers at least 20% performance improvement.
Through in-depth research and a multi-step analysis, Ethisphere honored 145 companies from three dozen industries worldwide. Kennametal is one of just seven industrial manufacturing companies chosen for this year's honor.
"The entire community of World's Most Ethical Companies believe that customers, employees, investors and regulators place a high premium on trust and that ethics and good governance are key in earning it," said Ethisphere's Chief Executive Officer, Timothy Erblich.
Source: Kennametal Inc.