30 August 2012

Carpenter Technology to Establish Bar Finishing Facility in China

Wyomissing, Pa.- 30 August 2012 (BUSINESS WIRE) - Carpenter Technology Corporation today announced it plans to construct a bar finishing facility in China to meet increased customer demand in Asia. A final location has not yet been determined. 

“The decision to build in China is being driven by rapid growth in that region of the world,” said William A. Wulfsohn, Carpenter Technology’s President & CEO. “While the company’s core production and knowledge strength will remain based in the United States, we will expand capacity in appropriate regions to support the local needs of our customers.” 

The wholly-owned facility is expected to be completed in 18-24 months at a total capital cost of about $20 million. The facility will have initial capacity to process approximately 1,500 tons annually of premium small diameter bar. 

Carpenter Technology, based in Wyomissing, PA, produces and distributes specialty alloys, including stainless steels, titanium alloys and superalloys, and various engineered products. 

Source: Carpenter Technology