Carpenter Technology Corp & Manhattan Scientifics Inc. Partner On Commercialization Of New Class Of Metal Alloys
September 21 2009 - 4:00PM
Business Wire
Carpenter Technology Corporation (NYSE:CRS) and Manhattan
Scientifics Inc. (OTC BB: MHTX) announced today a joint technology
agreement involving a new class of high strength metals with broad
applications in medical, aerospace, transportation, energy, defense
and consumer products.
Manhattan Scientifics holds the exclusive U.S. license for a
family of patents to produce super-strong metals developed at the
Los Alamos National Laboratory and in Russia. Carpenter, a leading
steel and specialty alloys manufacturer, will develop, manufacture
and market the new generation of advanced metals.
“Carpenter continues to forge ahead as the leading developer of
stainless steels and specialty alloys,” said Anne L. Stevens,
Carpenter’s chairman and chief executive officer. “Our relationship
with Manhattan Scientifics will ultimately give us new, cutting
edge manufacturing techniques that we can apply to many of our
alloys to service an increasing global need for high strength
materials”
Manhattan Scientifics’ CEO Manny Tsoupanarias said, “Carpenter
Technology Corporation is exactly the kind of industrial
manufacturing partner that can bring our new class of metals to the
broad market. The initial technology transfer payments along with
eventual royalties from Carpenter will provide Manhattan
Scientifics quick and sustained revenue, positive cash flow and
profitability beginning this year. This is a major break-through
for our 8,600 shareholders.”
Carpenter Technology Corporation (NYSE:CRS), based in
Wyomissing, PA, produces and distributes specialty alloys,
including stainless steels, titanium alloys and superalloys, and
various engineered products. Information about Carpenter Technology
can be found on the Internet at www.cartech.com.
About Manhattan Scientifics Inc.:
Manhattan Scientifics’ business model capitalizes on inventions
and technology from which profits may be earned primarily through
licensing. Operations include identifying, developing, patenting,
supporting and marketing technical innovations by harvesting top
technology talent to bring game-changing technology to the market.
Manhattan’s science team includes technology leaders like Dr.
Martin Cooper, inventor of the cellular telephone, Dr. Arthur
Kaufman, founder of H-Power, Dr. Terry Lowe, nano-science pioneer,
and Donald Sandstrom, a 42-year veteran of the Los Alamos National
Laboratory, and a Materials Science expert and “father” of
Manhattan Scientifics.
www.mhtx.com
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, 2009.
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