One of the most popular materials of metal printing, titanium offers solutions to more and more production leaders. Acquiring titanium developer Puris, Carpenter Technology aims to step on additive manufacturing market.
Material manufacturer, Carpenter Technology Corporation drew interest with this important investment. The company aims to enhance its expert areas with titanium based material manufacturer Puris LLC.
As a result of the transaction, Carpenter will enter the titanium powder market significantly earlier than previously planned and will reduce its planned fiscal year 2017 capital expenditures by approximately $20 million.
Operations will continue at the existing site which is well positioned for future expansion and will operate as a functional unit of Carpenter Powder Products, complementing Carpenter’s existing broad portfolio of well-established powder metallurgy offerings.
Tony Thene, Carpenter’s President & CEO said these about this investment; “This acquisition will provide Carpenter with immediate entry into the rapidly expanding titanium powder market and is consistent with our strategic focus on strengthening our leadership position in important growth areas.”
Stephen Peskosky, Vice President of Corporate Development at Carpenter stated, “The addition of titanium powder to Carpenter’s existing capabilities is significant due to the current and anticipated demand increases from the additive manufacturing industry, which produces mission critical parts supplied to Aerospace and Medical markets, as well as other markets. As we continue to differentiate Carpenter as a solutions provider and market focused company, we believe the expansion of our powder and additive manufacturing capabilities further enhances the value we provide our customers and further expands our long-term growth profile.”