Carpenter Forms Powder Metals Unit.Business Editors/Hi-Tech Writers WYOMISSING, Pa.--(BUSINESS WIRE)--March 13, 2001 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 ) announced today that it has formed a new business unit, Carpenter Powder Products, to focus its manufacturing, technical and sales efforts to improve internal efficiency and to better serve customers in this growth market. The unit will be based in Bridgeville, Pa., with research and development, manufacturing, technical support and sales offices in five locations in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Europe. Carpenter Powder Products makes gas-atomized nickel-, cobalt- and iron-based alloy alloy (ăl`oi, əloi`) [O. Fr.,=combine], substance with metallic properties that consists of a metal fused with one or more metals or nonmetals. powders designed for high temperature, corrosive corrosive /cor·ro·sive/ (kor-o´siv) producing gradual destruction, as of a metal by electrochemical reaction or of the tissues by the action of a strong acid or alkali; an agent that so acts. and wear environments - typically in the aerospace, automotive, medical and industrial sectors. In addition to powders, the business will also be responsible for marketing and sales of consolidated long products, including both powder and conventional tool steels. "By integrating Carpenter's manufacturing, technical and commercial resources into one focused business unit, we expect to achieve rapid growth in powder markets with a plan to more than double in size over the next five years," said William B, Kent, who was named vice president and general manager of Carpenter Powder Products, Inc. The new unit consists of the former Dynamet Powder Products business, in Bridgeville; Dynamet Anval AB, a Swedish-based powder manufacturer acquired by Carpenter last year; Dynamet Anval GmbH, a sales subsidiary in Dusseldorf; and various technical and sales personnel currently within Carpenter Specialty Alloys. Kent will continue to report to Robert J. Torcolini, senior vice president - Engineered Products Operations. Carpenter, based in Wyomissing, Pa., is a leading manufacturer and distributor of stainless steel stainless steel: see steel. stainless steel Any of a family of alloy steels usually containing 10–30% chromium. The presence of chromium, together with low carbon content, gives remarkable resistance to corrosion and heat. , specialty alloys including titanium alloys Titanium alloys are metallic materials which contain a mixture of titanium and other chemical elements. Such alloys have very high tensile strength and toughness (even at extreme temperatures), light weight, extraordinary corrosion resistance, and ability to withstand extreme , and various engineered products. Carpenter had sales of $1.1 billion in fiscal 2000 (ended June 30, 2000). More information about Carpenter is available at www.cartech.com. |
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