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

It said “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.”

Mr William A Wulfsohn President & CEO of Carpenter Technology’s said “The decision to build in China is being driven by rapid growth in that region of the world. 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.”

Source - Carpenter Technology

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