Printer Friendly

CARPENTER TECHNOLOGY ANNOUNCES REORGANIZATION TO BUILD STEEL BUSINESS, EXPAND MARKETS

 READING, Pa., Jan. 29 /PRNewswire/ -- Carpenter Technology (NYSE: CRS) announced today a major business reorganization intended to maximize the growth and profitability of its Steel Division and expand its participation in speciality alloys and materials markets.
 Donald C. Bristol, formerly vice president, Manufacturing Operations, has been appointed to the new position of senior vice president-Steel Division. Bristol, 53, will direct the efforts of a re- configured Steel Division, which has long been the cornerstone of the company. The Steel Division now encompasses manufacturing, sales and marketing, purchasing, research and development, technical services and continuous improvement initiatives. Bristol will continue to report to Robert W. Cardy, chairman, president and chief executive officer.
 Nicholas F. Fiore, formerly vice president-Research and Corporate Development, has been appointed to the new position of senior vice president-Strategic Businesses. Fiore, 53, will manage Carpenter's strategic growth efforts, including corporate development, two existing ventures related to structural ceramics and new business ventures. Also reporting to him is Carpenter's Special Products Division (SPD), based in El Cajon, Calif. SPD is a high-technology, precision metal-working division that primarily serves the nuclear and aerospace industries. Fiore will continue to report to Cardy.
 Other executive officers reporting to Cardy are: G. Walton Cottrell, senior vice president-finance and chief financial officer; John R. Welty, vice president, general counsel and secretary; and Robert W. Lodge, vice president-Human and Administrative Services.
 "This reorganization will allow Carpenter to focus on two critical operating goals," Cardy said. "We seek to sustain the performance and growth in our speciality steel and alloy business. At the same time, we are seeking aggressive growth in new business areas that are synergistic with our core business."
 Carpenter, a Fortune 500 company based in southeastern Pennsylvania, is a leading manufacturer and marketer of speciality steels and metals used in high-performance products.
 /delval/
 -0- 1/29/93
 /CONTACT: Katharine Marshall, manager-communications and administrative services of Carpenter Technology, 215-208-3034/
 (CRS)


CO: Carpenter Technology Corporation ST: Pennsylvania IN: MNG SU: RCN

MJ-CC -- PH026 -- 0836 01/29/93 14:31 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 29, 1993
Words:335
Previous Article:MOUNTAINEER BANKSHARES OF W.VA., INC. ANNOUNCES FIRST QUARTER DIVIDEND
Next Article:K-TRON NORTH AMERICA PROMOTES MOORE
Topics:


Related Articles
CARDY ELECTED CHAIRMAN, PRESIDENT AND CHIEF EXECUTIVE OFFICER OF CARPENTER TECHNOLOGY
CARPENTER TECHNOLOGY WELL POSITIONED, DESPITE GLOBAL ECONOMY AND EFFECT OF ELECTION
CARPENTER TECHNOLOGY TO ACQUIRE MEXICAN STEEL DISTRIBUTION COMPANY FOR $20.4 MILLION
CARPENTER TECHNOLOGY COMPLETES CLOSING ON TAIWANESSE JOINT VENTURE
CARPENTER TECHNOLOGY STRENGTHENS OPERATIONS, TAKES GLOBAL STEPS IN FY '93
CARPENTER TECHNOLOGY REPORTS HIGHER EARNINGS FOR SECOND FISCAL QUARTER
CARPENTER TECHNOLOGY RECEIVES ISO 9002 CERTIFICATION
Material guy.
New Leadership for Specialty Steel Industry Association.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters