Carpenter Technology Corporation will build its new superalloy powder facility in Alabama, directly across the street from its nearly-completed $518 million ultra-premium product manufacturing facility near Athens in Limestone County.
Today’s news comes three weeks after Carpenter announced a multi-faceted agreement with United Technologies Corporation (UTC), through its Pratt & Whitney Division, which includes licensing technology associated with the production of superalloy powders and a supply agreement for up to 20 years.
The superalloy powder facility is expected to begin production in late 2015. Once the facility is qualified by Pratt & Whitney following construction, Carpenter will supply Pratt & Whitney with superalloy powder for use in aircraft engines. “The capital cost of this project falls within the annual $120 million capital spend guidelines that were previously outlined for the period following the completion of the main Athens plant,” said Tony Thene, Carpenter’s Chief Financial Officer.
“Alabama is proving to be an excellent region for us,” said William A. Wulfsohn, Carpenter’s President & CEO. “There were several reasons why we selected Athens two years ago, including the location being ideal for future growth and expansion. We also remain extremely impressed with our access to a strong pool of skilled workers.”
Global demand for superalloy powder is expected to grow substantially as aircraft engine operating temperatures continue to increase as airlines pursue improvements in fuel efficiency. Carpenter’s entrance into this market segment reflects its confidence in superalloy powder demand for additional applications such as those used in energy and additive manufacturing.
Timothy R. Armstrong, PhD, Vice President – Research & Product Commercialization, will lead this new business which will be part of Carpenter’s Performance Engineered Products segment.
With the addition of the new facility, Carpenter’s Athens Operations is expected to employ 250 people by 2017.
About Carpenter Technology Corporation
Carpenter Technology Corporation, based in Wyomissing, Pa., produces and distributes specialty alloys, including stainless steels, titanium alloys and superalloys, and various engineered products. Information about Carpenter can be found at cartech.com.
Source: http://www.cartech.com