Carpenter Technology Announces Plans for Emerging Technology Center
July 16 2018 - 8:00AM
Carpenter Technology Corporation (NYSE:CRS) today announced plans
for adding an Emerging Technology Center on its Athens, Alabama
campus. The facility will initially focus on Additive Manufacturing
(AM) technology development, with future investments slated for
soft magnetics and meltless titanium powder.
Over time, Carpenter expects to invest $52 million in the
Emerging Technology Center, which will create approximately 60 jobs
over the next five years. This investment is a critical component
in executing Carpenter’s key growth initiatives and is aligned with
its business strategy of becoming a complete end-to-end solutions
provider in the AM area.
“By utilizing our metallurgical and process expertise, the
Emerging Technology Center is where we will develop and implement
future solutions for our customers ranging from new alloys to
revolutionary 3-D printed parts,” said Tony R. Thene, Carpenter’s
Chief Executive Officer. “Our recent investments in AM and soft
magnetics indicate our ongoing commitment to the rapidly changing
landscape of our industry.”
Within the last 16 months, Carpenter has acquired Puris LLC, a
producer of titanium powder for additive manufacturing and advanced
technology applications; acquired MB CalRAM LLC, a leader in
powder-bed fusion additive manufacturing technologies; announced a
$100 million investment in soft magnetics capabilities at its
Reading, PA facility; opened an AM Technology Center in Reading,
PA; and solidified several AM powder supply agreements with various
companies to expand its presence in this rapidly expanding
market.
Carpenter’s 500,000-square-foot Alabama manufacturing facility,
which began operations in 2014, produces high-end specialty alloy
products, primarily for the aerospace and energy markets. The
Athens site was later expanded to produce superalloy powders used
in applications including jet engine disks and 3-D printed aircraft
engine components and other products.
The Emerging Technology Center is expected to open in
approximately 12 months.
About Carpenter Technology
Carpenter Technology Corporation (NYSE:CRS) 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 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 has expanded its AM capabilities
to provide a complete “end-to-end” solution to accelerate materials
innovation and streamline parts production. www.cartech.com. On
social: Twitter, LinkedIn, and Facebook
Media
Inquiries:
William J. Rudolph,
Jr.
+1
610-208-3892
wrudolph@cartech.com
Investor Inquiries:The Plunkett GroupBrad Edwards+1
212-739-6740brad@theplunkettgroup.com
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