Carpenter Technology Corp. will build a new plant in Athens, AL, near Huntsville, to produce forged products, an estimated $500-millon project. The 400,000-ft2 site will be developed over 30 months, to produce approximately 27,000 tons/year of aerospace- and energy-sector products. Reading, PA-based Carpenter said the expansion demonstrated its commitment to expand capacity, reduce lead times, and improve customer service.
Without detailing the plant design, Carpenter stated it would include remelting, forging, and finishing and testing operations.
"Earlier this year, we outlined a corporate strategy centered on optimizing our core business, accelerating growth with acquisitions, and investing in technology and capacity," according to company president and CEO William A. Wulfsohn. "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,” he continued. “Finally, this expansion will support increased demand expected from the sales of new technologies we plan to commercialize over the coming years."
Carpenter Technology produces conventional and powder-metal specialty alloys, including stainless steels, titanium alloys, tool steels, and superalloys. The company is proceeding with the $558-million purchase of Latrobe Specialty Metals, announced in June.