Carpenter Acquires UltraFine Powder Technology Inc.
March 28 2008 - 12:32PM
Business Wire
Carpenter Technology Corporation (NYSE:CRS), today announced its
Carpenter Powdered Products, Inc. subsidiary, has acquired the
assets and business of UltraFine Powder Technology Inc., a private
company in Woonsocket, RI. UltraFine is a leader in the manufacture
and sale of fine gas atomized powders for the metal injection
molding (MIM) industry and other specialty markets. Carpenter
Technology produces and distributes specialty alloys, including
stainless steels, titanium alloys and superalloys, and various
engineered products. Detailed information about Carpenter
Technology can be accessed at our website: www.cartech.com. Its
Carpenter Powder Products subsidiary features the industry's most
extensive capacity for spherical gas atomized metal powders, and
supplies a wide range of products for advanced aircraft and medical
alloys to stainless and tool steels. Except for historical
information, all other information in this news release consists of
forward-looking statements within the meaning of the Private
Securities Litigation Act of 1995. These forward-looking statements
are subject to risks and uncertainties 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 annual report on Form 10-K for the year ended June
30, 2007, its subsequent Form 10-Q, and the exhibits attached to
those filings. They include but are not limited to: 1) the cyclical
nature of the specialty materials business and certain end-use
markets, including aerospace, industrial, automotive, consumer,
medical, and energy including power generation, or other influences
on Carpenter�s business such as new competitors, the consolidation
of customers and suppliers or the transfer of manufacturing
capacity from the United States to foreign countries; 2) the
ability of Carpenter to achieve cost savings, productivity
improvements or process changes; 3)�the ability to recoup increases
in the cost of energy and raw materials or other factors;
4)�domestic and foreign excess manufacturing capacity for certain
metals; 5)�fluctuations in currency exchange rates; 6) the degree
of success of government trade actions; 7)�the valuation of the
assets and liabilities in Carpenter�s pension trusts and the
accounting for pension plans; 8)�possible labor disputes or work
stoppages; 9) the potential that our customers may substitute
alternate materials or adopt different manufacturing practices that
replace or limit the suitability of our products; 10) the ability
to successfully acquire and integrate acquisitions; 11) the ability
of Carpenter to implement and manage material capital expansion
projects in a timely and efficient manner; and 12) the pending sale
of its ceramics operations. Any of these factors could have an
adverse and/or fluctuating effect on Carpenter's results of
operations. The forward-looking statements in this document are
intended to be subject to the safe harbor protection provided by
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. Carpenter
undertakes no obligation to update or revise any forward-looking
statements.
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