High-Temp Alloy Receives First VAP Approval at Newest Facility
WYOMISSING, Pa.--(BUSINESS WIRE)--Jun. 17, 2015--
Carpenter Technology Corporation (NYSE:CRS) announced today that a
leading European aerospace engine manufacturer has approved the
manufacture of a nickel-based high-temperature alloy at our new
manufacturing facility in Athens, Alabama. The Vendor Approved Process
(VAP) was finalized on Tuesday.
“We are beginning to see the realization of our vision for Athens,
although it is still early in the overall qualification process,” said
Gregory A. Pratt, Capenter’s Chairman, President and Chief Executive
Officer. “By approving this nickel-based high-temperature alloy for use
in its aerospace engines, this leading manufacturer has shown confidence
in our ability to meet very stringent criteria.”
Carpenter began operations in Athens in January 2014 and is currently
undergoing multiple qualification approvals, some of which take more
than 24 months to complete.
The recently approved nickel-based alloy is used in aerospace engine
rings.
Learn about our aerospace capabilities and the new Alabama facility at www.cartech.com/aerospace.
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, 2014, Form 10-Q for the quarters ended September 30, 2014,
December 31, 2014, and March 31, 2015, and the exhibits attached to
those filings. They include, but are not limited to, statements
regarding approval of the manufacture of a nickel-based high-temperature
alloy at our new manufacturing facility in Athens, Alabama, the
finalization of the VAP, our ability to meet stringent criteria, and the
ability to obtain multiple qualification approvals. Carpenter undertakes
no obligation to update or revise any forward-looking statements. The
forward-looking statements in this document are intended to be subject
to the safe harbor protection provided by Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Carpenter undertakes no obligation to update
or revise any forward-looking statements.
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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