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Latest News:
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Carpenter to Build New Premium Products Facility
Aug. 26, 2011 - Carpenter Technology announced plans to construct a new state-of-the-art manufacturing facility capable of producing approximately 27,000 additional tons per year. The new facility is to include remelting, forge, and associated finishing and testing capabilities.
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Carpenter Technology Reports Fourth Quarter Results
Jul. 29, 2011 - Carpenter Technology reported net income attributable to Carpenter of $25.5 million on net sales of $483.6 million for the fourth quarter, and net income attributable to Carpenter of $71.0 million on net sales of $1.675 billion for the full year fiscal 2011.
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Carpenter Technology Acquires Oilfield Alloys
Jun. 28, 2011 - Carpenter announced the acquisition of Singapore-based Oilfield Alloys Pte. Ltd., a manufacturer and distributer of directional drilling equipment in the Asia-Pacific region.
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Carpenter Technology to Acquire Latrobe
Jun. 21, 2011 - Carpenter Technology Corp. and Latrobe Specialty Metals, Inc. have entered into a definitive merger agreement whereby Carpenter will acquire Latrobe in a transaction valued at approximately $558 million. Closing is expected to occur during the first quarter of FY2012, which ends September 30, 2011.
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Carpenter Technology to Expand Reading Facility
May 3, 2011 - Carpenter Technology Corp. announced a significant expansion project at its Reading, Pa., facility that will allow for the installation of two additional Electroslag Remelting Furnaces and increase capacity for Forge Finishing and Annealing operations.
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Carpenter Technology Acquires Amega West Services
Jan. 4, 2011 - Carpenter Technology expands its reach in the oil & gas market with the acquisition of Amega West Services, LLC, a manufacturer and service provider of complex components for directional drilling equipment, for approximately $54 million.
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Carpenter Technology Reports First Quarter Results
Nov. 2, 2010 - Carpenter Technology Corp. reported net income of $7.6 million, or $0.17 per share, for the quarter ended September 30, 2010. This compares to a net loss of $9.3 million, or negative $0.21 per share, for the same quarter a year ago. Net sales for the first quarter were $351.7 million, up 50% from the prior year.
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Carpenter Technology, Sandvik Partner in Powder Technology
Oct. 20, 2010 - Carpenter Technology Corp. and Sandvik Materials Technology have established a strategic partnership to mutually reinforce each company’s long-term commitment in powder metal products. Carpenter Technology will acquire a 40% interest in Sandvik Powdermet AB, and Sandvik AB will acquire a 40% interest in Carpenter Powder Products AB.
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AK Steel, Carpenter Announce Price Increases
May 4, 2010 - AK Steel announces increases of 6 to 9% on base prices for all 200, 300 and 400 series flat rolled stainless steel products, while Carpenter announces an average 5% increase in base prices for all specialty stainless, high temperature and electronic alloys in all product forms.
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Carpenter Technology Reports Q3 Results
May 3, 2010 - Carpenter Technology Corp. reported net income of $2.1 million ($0.05 per diluted share) for the third quarter ended March 31, 2010, compared to $13.1 million ($0.30 per diluted share) for the 2009 third quarter.
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Carpenter Technology Reports 2nd Quarter Results
Jan. 28, 2010 - Carpenter Technology announced net income of $3.5 million ($0.08 per diluted share) for the second quarter ended December 31, 2009. This compares with net income of $29.8 million ($0.68 per diluted share) for the year-ago second quarter.
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Carpenter Technology Announces New Leadership
Oct. 13, 2009 - The company formally splits the roles of Chairman and Chief Executive Officer into two positions. The Board of Directors appoints Gregory A. Pratt to serve as chair of the Board and interim CEO and President.
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Carpenter Launches New Alloys for Knife Blades
Oct. 7, 2009 - Carpenter Technology is introducing Carpenter CTS-BD1, a new alloy that is part of its CTS alloys suite. These alloys are suitable for use in consumer, industrial, and medical knife blade applications.
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Carpenter Technology Reports 4th Quarter, Full Year Results
Jul. 31, 2009 - Carpenter Technology reports a $20.8 million loss from continuing operations on net sales of $256.9 million for the fiscal fourth quarter and $47.9 million net income on net sales of $1.362 billion for the full fiscal year ended June 30, 2009.
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Carpenter, ATI Veterans Elected as SSINA Chairman, Vice Chairman
Mar. 26, 2009 - The Specialty Steel Industry of North America announces the election of Sunil Y. Widge, Chief Technology Officer Emeritus, Carpenter Technology as SSINA’s new Chairman, and Carl R. Moulton, Vice President—International, Allegheny Technologies, as Vice Chairman.
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Carpenter Lowers Outlook, Announces Closure of UK Strip Facility
Mar. 23, 2009 - Carpenter Technology revises its sales and operating margin expectations for the second half of its fiscal year downward, as it also announces closure of its Crawley, U.K., metal strip manufacturing facility as part of an overall plan to reduce fixed costs and optimize capacities.
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Carpenter Technology Reports Fiscal 4th Quarter, Full-Year Results
Aug. 1, 2008 - Carpenter Technology reports net income from continuing operations of $46.9 million on net sales of $556.3 million for the fourth quarter, and net income from continuing operations of $209.9 million on net sales of $1953.5 million for the year ended June 30, 2008.
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Carpenter Technology Reports 3rd Quarter Results
Apr. 30, 2008 - Carpenter Technology reports net income of $120.0 million ($50.8 million from continuing operations) on sales of $509.8 million for the fiscal third quarter ended March 31, 2008.
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Carpenter Technology Reports Record 2nd Quarter Results
Jan. 30, 2008 - Carpenter Technology reports net income from continuing operations of $57.7 million on net sales of $446.4 million for the fiscal second quarter, and net income from continuing operations of $113.8 million on net sales of $897.7 million in the first six months of the fiscal year. These results exclude the effects of the company’s soon-to-be-sold ceramics businesses.
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Carpenter to Sell Ceramics Businesses to Morgan Crucible
Dec. 24, 2007 - Carpenter Technology will sell its ceramic operations to Morgan Crucible, a U.K.-based advanced materials company. The sale, which includes both Certech and Carpenter Advanced Ceramics, is expected to generate pre-tax proceeds of approximately $147 million.
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Dynamet Names New President
Oct. 1, 2007 - Carpenter Technology subsidiary Dynamet names Andrew McElwee as its President, effective September 10, 2007.
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Carpenter Technology Shakes up Management Ranks
Jul. 30, 2007 - Carpenter Technology announces new assignments for two key operational executive officers—and the departure of Dennis Oates, former Senior Vice President—Specialty Alloys Division.
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Carpenter Technology Reports Year-End Results
Jul. 27, 2007 - Carpenter Technology Corp. reported net income of $61.3 million on sales of $560.5 million for the fourth quarter, and net income of $227.2 million on sales of $1944.8 million for fiscal 2007.
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Carpenter Breaks Ground for New Facility in Reading
Jun. 8, 2007 - Carpenter Technology breaks ground for a $115-million facility in Reading, Pa., that will add new vacuum induction melting furnaces, and new vacuum arc and electro-slag remelting furnaces for a 40% expansion of its premium melt capacity.
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Carpenter Technology Announces Resignation of CFO
May 4, 2007 - Carpenter Technology announced that M. David Kornblatt has resigned as Senior Vice President — Finance and Chief Financial Officer, who is leaving o take a position as CFO with another company.
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SSINA Study Details Chinese Government Support of Stainless Industry
Apr. 11, 2007 - A new study just issued by the Specialty Steel Industry of North America (SSINA) reveals that the government of China has a policy of conferring preferred status on the stainless steel industry, and providing it with a wide range of preferential treatment programs and direct subsidies.
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Carpenter Reports Record 2nd Quarter Results
Jan. 29, 2007 - Jan. 29, 2007 — Carpenter Technology Corp. reported net income of $48.1 million on net sales of $441.3 million for the second quarter, and net income of $99.3 million on net sales of $845.8 m
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Carpenter Technology to Expand Premium Melt Capacity
Jan. 29, 2007 - Carpenter Technology Corp. announced plans to expand premium melt capacity and related infrastructure at its Reading, Pa., facilities. The project is part of approximately $200 million in capital e
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Carpenter Announces Strategic Initiatives
Sep. 22, 2006 - Sep. 22, 2006 — Carpenter Technology Corp. announced a number of strategic initiatives it will build on to drive long-term growth. Carpenter says these initiatives will also prov
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Carpenter Raises Prices on Premium Melted Specialty Alloys
Dec. 8, 2005 - Carpenter Technology Corp.’s Specialty Alloys Operations unit announced that it will increase base prices an average of 10% on all premium-melted alloys in all product forms. The increase is effective immediately on all new orders.
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Carpenter Reports Record 1st Quarter Results
Oct. 25, 2005 - Carpenter Technology Corp. reported record net income of $40.1 million on record sales of $346.0 million for the first fiscal quarter of 2006 ended September 30, 2005. Carpenter says the results reflected robust conditions in the aerospace market, increased sales of higher value materials, and the benefits from the company's continued focus on lean and variation reduction.
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Carpenter Powder Products to Add Energy Surcharge
Oct. 19, 2005 - Carpenter Technology Corp.’s subsidiary Carpenter Powder Products Inc. (CPP) announced that it will add an energy component to its surcharge calculation for all tool and high-speed steel products.
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YTD Specialty Steel Imports Continue to Exceed YTD 2004 Totals
Oct. 11, 2005 - Total stainless steel imports grew to 399,708 tons through July 2005, a 13% increase* compared to the first seven months of 2004, according to the latest statistical data released by the Specialty Steel Industry of North America (SSINA). As imports continued to climb, U.S. stainless steel consumption dropped slightly to 1,361,595 tons, a 4% decreased compared to the comparable 2004 period.
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Carpenter Announces Energy Surcharge
Oct. 4, 2005 - Carpenter Technology Corp.’s Specialty Alloys Operations (SAO) unit is implementing an energy surcharge on all orders shipped after October 15. The surcharge will apply to all SAO stainless and specialty alloy products and reflects dramatic increases in natural gas prices.
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Stainless Steel Imports Continue to Outpace 2004 Totals
Aug. 31, 2005 - Total stainless steel imports climbed to 344,014 tons through the first six months of 2005 — a 15% increase compared to the same period in 2004 — according to the latest data released by the Specialty Steel Industry of North America (SSINA). As imports climbed, U.S. consumption remained steady at 1,168,282 tons, 3% below domestic consumption for the first six months of 2004.
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Carpenter to Raise Stainless Steel Strip Prices
Aug. 23, 2005 - Carpenter Technology Corp.’s Specialty Alloys Operations unit announced that it will increase base prices 10 percent on all precipitation hardening stainless steels in strip form.
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YTD Specialty Steel Imports Continue to Climb
Aug. 2, 2005 - Total stainless steel imports rose to 286,403 tons through the first five months of 2005 — a 19% increase compared to the same period in 2004 — according to the latest data released by the Specialty Steel Industry of North America (SSINA).
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Carpenter Technology Reports Fiscal 2005 Results
Jul. 26, 2005 - Carpenter Technology Corp. reported record net income of $47.8 million on record sales of $362.4 million for the fourth quarter, and record net income of $135.5 million on record net sales of $1.3 billion for the fiscal year ended June 30, 2005. Results reflected favorable market conditions and benefits from the company's continued focus on lean and variation reduction.
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First Quarter Stainless Steel Imports Climb 37% Higher than 2004
Jun. 14, 2005 - Total stainless steel imports reached 182,350 tons through the first quarter of 2005 — 37% higher than the first quarter of 2004 — according to the latest statistical data released by the Specialty Steel Industry of North America (SSINA). Total specialty steel imports (including stainless, electrical, and tool steels) were 39% higher than the first quarter of 2004.
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Carpenter Technology Adjusts Prices, Surcharge Mechanism
Jun. 3, 2005 - Carpenter Technology Corp. announced that its Specialty Alloys Operations unit it is increasing prices 5-10% on all premium melted alloys used in markets including aerospace, automotive, electronics, medical, power generation and oil and gas. The change takes effect immediately.
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Carpenter Technology Reports 3rd Quarter Results
Apr. 26, 2005 - Carpenter Technology Corp. today reported record net income of $35.3 million on record net sales of $342.1 million for the third fiscal quarter ended March 31, 2005. The company says results reflect favorable market conditions and a continued focus on costs through lean and variation reduction.
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Carpenter Technology Reports 2nd Quarter Results
Jan. 24, 2005 - Carpenter Technology Corp. reported record second quarter net income of $32.5 million on record net sales of $312.1 million for the second fiscal quarter ended December 31, 2004. The record sales and net income reflected strong market conditions and a continued focus on costs through lean and variation reduction.
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Carpenter Technology Reports 1st Quarter Results
Oct. 27, 2004 - Carpenter Technology Corp. reported record net income of $19.8 million on record net sales of $297.6 million for the first fiscal quarter ended September 30, 2004. Carpenter attributes the results to strong broad based demand and continued improvement in its operating performance.
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Talley Metals Increases Stainless Bar Prices
Sep. 15, 2004 - Talley Metals is increasing prices for all grades of stainless steel round bars, hexagons and squares by approximately 10%, effective with new orders and shipments as of October 1st.
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Talley Metals Increases Stainless Bar Prices
Jul. 23, 2004 - Talley Metals, a subsidiary of Carpenter Technology Corp., is increasing prices for all grades of stainless steel round bars, hexagons and squares by 3 to 7%, effective with new orders and shipments as of August 2.
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Carpenter Raises Prices for Stainless and Premium-Melted Specialty Alloy
Jul. 22, 2004 - Carpenter Technology Corp.’s Specialty Alloys Operations unit announced that it will increase base prices 3 to 10% on stainless steel bar products, effective immediately on new orders and with August 1st shipments. Carpenter also will increase base prices 7 to 10% on all premium-melted alloys effective immediately on new orders.
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