Five-Year Agreement Valued at Approximately $75M
WYOMISSING, Pa.--(BUSINESS WIRE)--Apr. 26, 2013--
Carpenter Technology Corporation (NYSE: CRS) has finalized the
completion of a formal supply agreement that will provide Rolls-Royce
with advanced technology materials used in the manufacture of jet engine
components. The materials will be used on current and future Rolls-Royce
engine platforms, in applications including rings, blades, vanes, and
airfoils. Demand for the material will be generated by Rolls-Royce in
the UK and the US, and its global suppliers. Materials in support of
this program will be manufactured at Carpenter’s Reading, PA and Athens,
AL specialty steelmaking facilities.
The five-year agreement runs through 2017 and is valued at approximately
$75M.
“We are very excited about formalizing our new strategic relationship
with Rolls-Royce,” said William A. Wulfsohn, President & CEO of
Carpenter Technology. “It is our belief that this agreement, and future
agreements, will serve the strategic interests of both companies.”
About Carpenter Technology Corporation
Carpenter Technology Corporation, based in Wyomissing, Pa., produces and
distributes specialty alloys, including stainless steels, titanium
alloys and superalloys, and various engineered products. Information
about Carpenter can be found at www.cartech.com.
Forward-Looking Statements
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are based on management’s current
expectations and are subject to risks, uncertainties and other factors
that could cause actual results to differ from those projected,
anticipated or implied. The most significant of these uncertainties are
described in Carpenter's filings with the Securities and Exchange
Commission including its annual report on Form 10-K for the year ended
June 30, 2012 and the quarterly report on Form 10-Q for the quarters
ended September 30, 2012, December 31, 2012, March 31, 2013, and the
exhibits attached to those filings. They also include, but are not
limited to, the demand and use of Carpenter’s advanced technology
materials on current and future Rolls-Royce engine platforms. Carpenter
undertakes no obligation to update or revise any forward-looking
statements.
Source: Carpenter Technology Corporation
Carpenter Technology Corporation
Media Inquiries:
William J.
Rudolph, Jr., 610-208-3892
wrudolph@cartech.com
or
Investor
Inquiries:
Michael A. Hajost, 610-208-3476
mhajost@cartech.com