Carpenter Technology Corporation

Carpenter Technology Corporation, founded in 1889, manufactures, fabricates, and distributes specialty metals. The company is a producer and distributor of premium specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels. Carpenter Technology is a leader in high-performance specialty alloy-based materials and process solutions for critical applications across the aerospace, defense, medical, transportation, energy, industrial, and consumer markets. The company has evolved to be a pioneer in premium specialty alloys, including titanium, nickel, and cobalt, as well as alloys specifically engineered for additive manufacturing processes and soft magnetics applications. Carpenter Technology is organized into two reportable business segments: Specialty Alloys Operations (SAO) and Performance Engineered Products (PEP). The SAO segment encompasses the company's major premium alloy and stainless steel manufacturing operations, primarily located at mills in Reading and Latrobe, Pennsylvania and surrounding areas, as well as South Carolina and Alabama. The combined assets of the SAO segment are managed in an integrated manner. The PEP segment comprises the company's differentiated operations, including the Dynamet titanium business, the Carpenter Additive business, and the Latrobe and Mexico distribution businesses. The businesses within the PEP segment are managed with an entrepreneurial structure. The company's operations depend on the continued receipt of critical raw materials such as nickel, cobalt, chromium, manganese, molybdenum, titanium, iron, and scrap containing these alloys.