Carpenter Becomes Part Owner of Swiss Parts Molding Firm.READING, Pa.--(BUSINESS WIRE)--April 7, 1998--Carpenter Technology Corp. (NYSE NYSE See: New York Stock Exchange :CRS CRS Course CRS Certified Residential Specialist (real estate certification) CRS Central Reservation System CRS Can't Remember Stuff (polite form) CRS Cost Reduction Strategy CRS Consumer Relations Specialist ) Tuesday acquired the majority interest (51 percent) in Parmaco AG, a privately held Swiss firm that makes metal injection molded parts. The ownership is the result of Carpenter's $1.5 million investment in the Fischingen, Switzerland, firm over the past 18 months. Carpenter has the option to acquire the remaining 49 percent of the company by Dec. 31, 2000. Parmaco is a licensee of Carpenter's Parmatech Corp. subsidiary, a Petaluma, Calif. firm, which developed technology in the 1970s to injection mold small, complex parts out of metal and ceramic powders. Typically these parts are denser and more complex - they may have irregular features on all three axes - than parts fabricated fab·ri·cate tr.v. fab·ri·cat·ed, fab·ri·cat·ing, fab·ri·cates 1. To make; create. 2. To construct by combining or assembling diverse, typically standardized parts: by more traditional press and sinter sinter Mineral deposit with a porous or vesicular texture (having small cavities). Siliceous sinter is a deposit of opaline or amorphous silica that occurs as an incrustation around hot springs and geysers and sometimes forms conical mounds (geyser cones) or terraces. technology. Carpenter, traditionally a manufacturer of stainless steels and other specialty alloys, began acquiring various injection molding injection molding n. A manufacturing process for forming objects, as of plastic or metal, by heating the molding material to a fluid state and injecting it into a mold. technologies in 1994 as a way to provide its customers with technologically advanced specialty materials to complement its specialty alloy offerings. "Customers using this technology work closely with us in the design and engineering of their custom parts and components," said Nicholas F. Fiore, senior vice president of Carpenter's Engineered Products Group. "Parmaco gives us a local presence in Europe, and an ability to support those companies that require innovative, precision manufacturing." Parmaco had sales of CHF CHF In currencies, this is the abbreviation for the Swiss Franc. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 4.6 million ($3.2 million) in 1997, mainly to European customers in the consumer products, industrial machinery and firearms industries. The company has three other private individual investors. Carpenter is a manufacturer and distributor of stainless steel, titanium and other specialty alloys. The company also works with parts manufacturers worldwide, providing solutions to applications in advanced ceramics, carbides, metal injection molding The introduction to this article provides insufficient context for those unfamiliar with the subject matter. Please help [ improve the introduction] to meet Wikipedia's layout standards. You can discuss the issue on the talk page. , and drawn tubular and solid shaped bars. CONTACT: Carpenter Technology Katharine Marshall, 610/208-3034 |
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