logo
Plus   Neg
Share
Email

Carpenter Technology Acquires LPW Technology, Expands AM Capabilities

While reporting its first-quarter financial results today, Carpenter Technology Corp. (CRS) said it has acquired LPW Technology Ltd. for about $81 million.

LPW is a supplier of advanced metal powders and powder lifecycle management solutions to the Additive Manufacturing industry, for approximately $81 million. The company, based in Widnes, Cheshire, United Kingdom, has additional processing operations near Pittsburgh, Pennsylvania, and employs approximately 80 people.

Carpenter noted that the acquisition of LPW expands its growing position as an additive manufacturing or AM solutions provider.

"Our aggressive development in key aspects of Additive Manufacturing (AM) demonstrates our commitment to build on our industry-leading position in this space. The acquisition combines LPW's metal powder lifecycle management technology and processes with our technical expertise in producing highly engineered metal powders and additively manufactured components," said Tony Thene, Carpenter's President and Chief Executive Officer.

Carpenter noted that it's additive portfolio, including recent investments in Puris, a titanium powders producer; CalRAM, a leader in electron beam and laser powder-bed fusion additive manufacturing services, and construction of an Emerging Technology Center in Athens, Alabama represent a significant force positioned to capitalize on the rapid AM growth.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The European Commission said Friday that it has signed a deal with Sanofi and GlaxoSmithKline to secure up to 300 million doses of their potential COVID-19 vaccine. Acella Pharmaceuticals recalled certain lots of hypothyroidism medication NP Thyroid in the form of tablets due to super potency, the U.S. Food and Drug Administration said in a statement. The company is recalling one lot of 15mg and one lot of 120mg of NP Thyroid that are packaged in 100 count bottles in strengths of 15 mg, and 120 mg, with expiration dates between October 2020 and November 2020. Walmart announced its decision to raise wages for around 165,000 hourly associates across all its U.S. stores starting October, and introduce a team-based operating model in Supercenters. In a tweet, the retail giant said, "Today we're introducing new leadership roles and cross-training opportunities, giving our associates more ways to grow their careers."
RELATED NEWS
Follow RTT