Carpenter Technology completes acquisition of Puris LLC in $35 million deal
March 8, 2017
Further to our report on February 2, 2017, Carpenter Technology Corporation (NYSE:CRS), headquartered in Philadelphia, Pennsylvania, USA,has announced the completion of its previously announced acquisition of the assets and business of Puris LLC, a producer of titanium powder for Additive Manufacturing and advanced technology applications. The reported purchase price was $35 million. The acquisition included Puris’ manufacturing assets, patents and related intellectual property.
The addition of Puris provides Carpenter with immediate entry into the rapidly growing titanium powder market and an expanded presence in Additive Manufacturing, and strengthens the Company’s capabilities as a solutions provider for customers across its end-use markets. Operations will continue at Puris’ existing production site in Bruceton Mills, West Virginia, USA, with the facility operating as a functional unit of Carpenter Powder Products.
Carpenter Technology Corporation is a leading producer and distributor of premium specialty alloys, including titanium alloys, nickel and cobalt based super-alloys, stainless steels, alloy steels and tool steels. Carpenter’s powder technology capabilities support a range of next generation products and manufacturing techniques, including Additive Manufacturing and 3D Printing.
