Carpenter Names Three to Head New Specialty Alloys Business Units.

Business Editors

WYOMISSING, Pa.--(BUSINESS WIRE)--July 11, 2001

As part of a reorganization designed to bring more focus to customer needs and business operations, Carpenter Technology Corporation (NYSE:CRS) has named three veteran employees to head new specialty alloys business units.

Appointed to the new business group positions, effective immediately, are:

-- Toni M. Brugger, vice president - coil business group.

-- Andrew McElwee, vice president - bar business group.

-- Sunil Y. Widge, vice president - forged bar business group and technology
(including research and development).

Brugger, McElwee and Widge will lead technical, sales, marketing and financial personnel focused on specific products within their business units. Carpenter expects the reorganization of its Specialty Alloys Operations into the three business groups, initially announced June 26, to provide a higher level of service and support and faster response to the company's customers, while at the same time enhancing profitability and reducing fixed costs.

"We believe the changes we're making will help both Carpenter and our customers respond effectively to a challenging marketplace," said Michael L. Shor, senior vice president - Specialty Alloys Operations. "With our new business units, we'll be able to meet customer needs with focus, speed and flexibility."

Carpenter's Specialty Alloys Operations (SAO), the largest of the company's divisions, manufactures more than 400 grades of stainless steel and specialty alloys for a wide range of applications in the aerospace, automotive, industrial and consumer markets. The main SAO mill is in Reading, Pa.

Widge, of Dryville, Pa., is a 25-year veteran of Carpenter; most recently, he was vice president - technology and quality. He began his career as a metallurgist at Carpenter and has worked in a variety of management positions in the company's research and development and technical departments since 1983.

Widge, a native of India, holds a master's degree and doctorate in metallurgy and material science from Lehigh University. He received a bachelor's degree in metallurgy from the College of Engineering in Pune, India. He also earned a master's degree in business administration from the Wharton School at the University of Pennsylvania.

The holder of five U.S. patents, Widge is a member of the American Society for Metals, Specialty Materials Processing Consortium, for which he served as president, Industrial Research Institute and Metallurgy Society.

In his 13 years at Carpenter, McElwee, of Chester Springs, Pa., has worked in a number of senior management positions, most recently as vice president - sales and marketing for SAO. He also served as president of Talley Metals Technology and general manager of Carpenter Specialty Wire Products.

McElwee joined Carpenter from Penn Iron, where he was vice president of sales and marketing. A native of Broomall, Pa., he received a bachelor of science degree in business administration from West Chester University.

He is a member of the American Society for Materials, American Wire Producers Association, Specialty Steel Industry of North America, Steel Service Center Institute and Manufacturers Alliance. He also serves on the board of directors of the Olivet Boys and Girls Club in Reading, Pa.

Brugger, of Downingtown, Pa., joined Carpenter in 1994 as a senior metallurgist and has since held several management positions in the company's technical and sales and marketing departments, including business manager - consumer products and manager of coil technical services and primary technical services.

Most recently, she was involved in implementing changes to Carpenter's inquiry and order management systems; the changes are expected to improve service to customers and streamline internal processes.

Brugger joined Carpenter from Phoenix Steel, where she led the technical department and was manager of product development. A native of Levittown, Pa., she received a bachelor's degree in metallurgical engineering from Lafayette College. She is a member of the American Society for Metals International, for which she served as chairman and held several positions on international committees.

To support the reorganization, Carpenter's field sales and customer service operations will be consolidated in the next six weeks. Daily customer support will be provided through four service centers in Philadelphia, Chicago, Los Angeles and Reading; five sales offices will close. Outside sales staff will be assigned to each of the new business groups.

Others receiving new positions as part of the reorganization are:

-- David W. Brouse, named director - customer service and supply

chain. He is responsible for the customer service function and

overall logistics for SAO. Brouse, of Birdsboro, Pa., has been

with Carpenter four years, most recently serving as general

manager - supply chain operations and planning.

-- John D. Matyasich, named director - planning and inventory. He

is responsible for all operations, capacity and inventory

planning functions. Matyasich, of Wernersville, Pa., has been

with Carpenter 22 years, most recently serving as general

manager - inquiry and order management.

-- Richard E. O'Hara, named director - procurement and strategy.

He is responsible for SAO procurement and strategy

development. O'Hara, of Wyomissing, Pa., has been with

Carpenter 24 years, most recently serving as manager - process

improvement.

Also reporting to Shor are: Antonio Castro, president, Grupo Carpenter, the company's subsidiary in Mexico; Michael J. McGarry, managing director - international sales; Russell E. Reber Jr., vice president of manufacturing - SAO; and Andrew T. Ziolkowski, controller - SAO.

Carpenter, based in Wyomissing, Pa., manufactures and distributes stainless steel, specialty alloys, titanium and various engineered products. In fiscal 2000 (ended June 30, 2000), the company's sales were $1.1 billion. More information about Carpenter is available at www.cartech.com.

(Editor's note: digital photos are available upon request.)