Carpenter Raises Prices On High Temperature Alloys.Business Editors WYOMISSING, Pa.--(BUSINESS WIRE)--May 15, 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 ) said today that it will increase prices on premium remelted 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. steels and nickel-based high temperature alloys by 2 percent to 10 percent, effective immediately on new orders. "Demand for these products continues at very high levels. To support our markets, Carpenter has made substantial capital investments to improve quality, increase productivity and expand capacity over the past five years," said Andrew McElwee, vice president - sales and marketing for Specialty Alloys Operations. "This price increase is needed to support those investments and to return the Specialty Alloys business to a more acceptable level of profitability." 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, titanium titanium (tītā`nēəm, tĭ–) [from Titan], metallic chemical element; symbol Ti; at. no. 22; at. wt. 47.88; m.p. 1,675°C;; b.p. 3,260°C;; sp. gr. 4.54 at 20°C;; valence +2, +3, or +4. and various engineered products. The company 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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