Carpenter Technology Opens Emerging Technology Center to Offer End-to-End Future Tech Additive Manufacturing Capabilities
December 04 2019 - 1:00PM
Carpenter Technology Corporation (NYSE: CRS) today announced the
grand opening of its Emerging Technology Center (ETC) in Athens,
Alabama.
Carpenter Technology’s 500,000-square-foot ETC is North
America’s newest additive manufacturing (AM) facility containing
true end-to-end capabilities. The ETC provides the capability to
atomize a range of specialty alloys into metal powder and
manufacture the powder into finished parts using AM technology (3D
metal printing). Its downstream equipment for taking the initially
produced part to a final finished product includes the latest,
state-of-the-art quick cooling Hot Isostatic Press (HIP) system in
the United States, as well as vacuum heat treating to optimize the
material properties of high-value specialty alloy components. Parts
manufactured in the ETC can then be qualified for use in a range of
cross-industry applications, from aerospace and transportation to
oil and gas and energy.
Critically, the ETC is designed to maintain full traceability
and provide analytical insights throughout the manufacturing
process via a digital thread, allowing Carpenter Technology to
manage the entire manufacturing process under one roof with a
streamlined workflow—a key differentiator for the Company in the AM
industry.
“Our Emerging Technology Center is a critical component of
Carpenter Technology’s future growth and development, and is
aligned with our business strategy of evolving to an end-to-end
solutions provider and influential leader in the AM area,” said
Carpenter Technology Chief Executive Officer Tony Thene. “We will
also use it as a base to launch future investments as we expand our
soft magnetics technology platform, scale up additional powder
operations and demonstrate a number of next generation materials we
have under development today.”
The ETC investment complements Carpenter Technology’s
500,000-square-foot Alabama manufacturing facility, which began
operations in 2014, and produces high-end specialty alloy products,
primarily for the aerospace and energy markets.
“We have chosen to continue to invest in North Alabama because
it offers three important advantages—a high-quality, tech-oriented
workforce, a clear connection with the aerospace industry and a
close working partnership with state and local government
officials,” said Thene.
“I have been looking forward to the opening of Carpenter
Technology’s Emerging Technology Center since we joined with
company leaders to announce plans for the facility at the
Farnborough International Airshow in 2018,” Alabama Governor Kay
Ivey said. “I’m proud to see this world-class R&D center call
Alabama home as we continue to strengthen the partnership with our
friends at Carpenter Technology.”
Carpenter Technology has invested approximately $40 million to
date in the ETC and is expected to create approximately 60 jobs
over the next five years as well as help further the region’s
position as an advanced manufacturing technology center. To date,
the Company has invested a total of over $600 million in its
Alabama operations.
“Carpenter Technology’s new Emerging Technology Center will
power game-changing advances in the company’s development of
sophisticated new additive manufacturing technologies,” said Greg
Canfield, secretary of the Alabama Department of Commerce. “With
the ETC, Carpenter Technology is bringing new capabilities to
Alabama’s manufacturing sector, and I can’t wait to see how the
work conducted there helps to shape the future for this great
company.”
About Carpenter Technology Corporation
Carpenter Technology Corporation is a recognized leader in
high-performance specialty alloy-based materials and process
solutions for critical applications in the aerospace, defense,
transportation, energy, industrial, medical, and consumer
electronics markets. Founded in 1889, Carpenter Technology has
evolved to become a pioneer in premium specialty alloys, including
titanium, nickel, and cobalt, as well as alloys specifically
engineered for additive manufacturing (AM) processes and soft
magnetics applications. Carpenter Technology has expanded its AM
capabilities to provide a complete “end-to-end” solution to
accelerate materials innovation and streamline parts production.
More information about Carpenter Technology can be found at
www.carpentertechnology.com.
Forward-Looking Statements This news release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements are based on management’s current
expectations and are subject to risks, uncertainties and other
factors that could cause actual results to differ from those
projected, anticipated or implied. The most significant of these
uncertainties are described in Carpenter’s filings with the
Securities and Exchange Commission, including its report on Form
10-K for the year ended June 30, 2019, Form 10-Q for the quarter
ended September 30, 2019, and the exhibits attached to those
filings. They include, but are not limited to, statements regarding
the Emerging Technology Center (ETC) and investments and
capabilities related thereto. Carpenter undertakes no obligation to
update or revise any forward-looking statements.
Media Inquiries: Heather Beardsley +1
610-208-2278 media@cartech.com Investor
Inquiries: The Plunkett Group +1 212-739-6740
brad@theplunkettgroup.com
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