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Carpenter Technology to Acquire Assets of Puris LLC

Feb 03, 2017 - ICT Monitor Worldwide

(GlobeNewswire) - Carpenter Technology Corporation (NYSE:CRS) today announced the execution of a definitive asset purchase agreement for the purchase of substantially all of the assets and business of Puris LLC (Puris), a producer of titanium powder for additive manufacturing and advanced technology applications, for $35 million. The assets and business to be acquired include Puris titanium powder operations and business, additive manufacturing assets, patents and related intellectual property.

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, said Tony Thene, Carpenters President & CEO. Puris brings industry leading technology and processes for the production of titanium powder, additive manufacturing part production capabilities, a talented team, attractive intellectual property, and established customer relationships. The strengths of Puris, coupled with Carpenters reputation as an industry leading producer of premium alloys and our global commercial reach, will allow us to further deliver on the growing needs of our cust...