Carpenter Technology Corporation announced today that it will construct a new 400,000 square foot state of the art manufacturing facility in response to strong customer demand for premium products primarily in the fast growing aerospace and energy industries.

The new facility will ultimately be capable of producing approximately 27,000 tons per year of additional premium product and is part of Carpenter’s ongoing commitment to expand capacity, reduce lead times, and improve customer service.

The facility will be built on one of several 200+ acre Greenfield sites currently under consideration and will cost approximately USD 500 million. The new facility will include remelting, forge, and associated finishing and testing capabilities.

The facility is expected to be operational in approximately 30 months.

Mr William A Wulfsohn president & CEO said “Earlier this year, we outlined a corporate strategy centered on optimizing our core business, accelerating growth with acquisitions, and investing in technology and capacity. Our new facility will play a key supporting role in each of these areas. The core business will be strengthened with increased premium capacity to support expanded long-term customer agreements and with more efficient operations utilizing advanced technology. This investment will also enable Carpenter to support the increased demand related to the Latrobe (pending), Amega West, and Oilfield Alloys acquisitions. Finally, this expansion will support increased demand expected from the sales of new technologies we plan to commercialize over the coming years.”

Mr David L Strobel senior VP Global Operations, sees this initiative as Carpenter’s next step in advancing the company’s leadership in the production of premium alloys. He said “The new facility will play a key role in further developing our capabilities in the production of our premium products, primarily serving the aerospace and energy markets. This facility will deploy the latest technology, and coupled with our strong experience and know how, will serve both Carpenter and our customers well into the future. We are excited to build this into our strong list of capabilities."