GlobeNewswire

Carpenter Enhances Additive Manufacturing Capabilities With Acquisition of LPW Technology Ltd.

Del

Expands Growing Leadership Position as Additive Manufacturing Solutions Provider 

Incorporates Metal Powder Lifecycle Management Technology with Superior Quality Control and Traceability

PHILADELPHIA, Oct. 24, 2018 (GLOBE NEWSWIRE) -- Carpenter Technology Corporation (NYSE: CRS) today announced it has acquired LPW Technology Ltd. (LPW), a leader in the development and supply of advanced metal powders and powder lifecycle management solutions to the Additive Manufacturing industry, for approximately $81 million. LPW is based in Widnes, Cheshire, United Kingdom with additional processing operations near Pittsburgh, Pennsylvania. LPW employs approximately 80 people.

“Our aggressive development in key aspects of Additive Manufacturing (AM) demonstrates our commitment to build on our industry-leading position in this space,” said Tony R. Thene, Carpenter’s President and Chief Executive Officer. “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."  

Lifecycle management technology is becoming increasingly important to understanding how materials behave before, during, and after production in the powder-bed fusion process.  Understanding powder behavior is critical as AM becomes more widely adopted and implemented across various industries.

“LPW’s innovative platforms and enabling technology further solidify Carpenter’s position as a preferred provider of end-to-end next generation Additive Manufacturing solutions,” said Phil Carroll, LPW’s founder. “I’m extremely proud of the accomplishments we’ve achieved at LPW and I’m excited to be part of Carpenter’s continued growth and leadership in AM.”  

Carpenter’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.  

About Carpenter Technology

Carpenter Technology Corporation is a leading producer and distributor of premium specialty alloys, including titanium alloys, nickel and cobalt based superalloys, stainless steels, alloy steels and tool steels.  Carpenter’s high-performance materials and advanced process solutions are an integral part of critical applications used within the aerospace, transportation, medical and energy markets, among other markets. Building on its history of innovation, Carpenter’s metal powder technology capabilities support a range of next-generation products and manufacturing techniques, including Additive Manufacturing and 3D Printing.  Information about Carpenter can be found at www.cartech.com.

About LPW Technology Ltd.

Widnes, Cheshire, UK-based LPW Technology Ltd. is a leader in the development, manufacturing, and supply of ultra-clean metal powders designed specifically for the Additive Manufacturing industry. LPW’s 98,000 square foot manufacturing facility in the UK and its value-added processing facility near Pittsburgh, PA mobilizes its highly differentiated materials design, specification, manufacturing, and lifecycle management capabilities.

RSM Corporate Finance LLP served as exclusive financial advisor to LPW Technology Ltd. on the transaction.

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, 2018, and the exhibits attached to that filing.  They include, but are not limited to, statements regarding LPW Technology Ltd. Carpenter undertakes no obligation to update or revise any forward-looking statements.

           
Media Inquiries:         Investor Inquiries:
William J. Rudolph, Jr.         The Plunkett Group
+1 610-208-3892         Brad Edwards
wrudolph@cartech.com         +1 212-739-6740
          brad@theplunkettgroup.com

Om GlobeNewswire

GlobeNewswire
GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://globenewswire.com

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Følg saker fra GlobeNewswire

Registrer deg med din epostadresse under for å få de nyeste sakene fra GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra GlobeNewswire

GSA Europe’s Managing Director Elected Co-lead of CEN’s TC456 Committee15.1.2019 21:12Pressemelding

SAN GWANN, Malta, Jan. 15, 2019 (GLOBE NEWSWIRE) -- GSA Europe’s Managing Director Mark Pace has been elected by the Comité Européen de Normalisation (CEN) to lead the creation of a European Union online gaming reporting standard. CEN has established Technical Committee 456 to create this standard in support of online gambling supervision. GSA Europe joined Technical Committee 456 as a Liaison Organization in 2017. The Technical Committee’s mandate from the European Commission is directly aligned with work that GSA Europe has already started, namely, to create a single standard set of data elements and single standard way in which data is provided by online gambling providers to EU Member State regulatory authorities. In addition to joining and now leading the Technical Committee’s work, GSA Europe also donated their draft Regulatory Data Set and Regulatory Reporting Interface to CEN seeking to help jump-start the Committee’s work. “Joining CEN’s TC456 as a Liaison Organization, and no

Orion Biotechnology Reports Positive Results for Colorectal Cancer in Preclinical Study15.1.2019 15:00Pressemelding

OTTAWA, Jan. 15, 2019 (GLOBE NEWSWIRE) -- Orion Biotechnology Canada Ltd., a developer of novel medical treatments, today announced preclinical data produced in collaboration with Charles River Laboratories, evaluating the efficacy of OB-002O (5P12-RANTES) in colorectal cancer. BALB/c mice were inoculated subcutaneously with the CT-26 colorectal cancer cell line. Three days after inoculation intraperitoneal treatment was started with OB-002O, a murine anti-PD-1 antibody, OB-002 + anti-PD-1, or saline placebo. Treatment was given daily or every third day. Treatment with OB-0020 alone led to statistically significant delayed tumor growth at multiple time-points. An even more profound effect on the decrease in mean tumor volume was observed in combination cohort where animals received both, OB-0020 and the anti-PD-1 antibody (p>0.05). “There is growing awareness of the role of CCR5 antagonism as an important component of cancer immunotherapy. OB-002O is an extremely potent CCR5 antagonist

Credit Suisse Partners with CGAP on Digital Finance to Catalyze Delivery of Energy, Water and other Services to Low Income People15.1.2019 14:08Pressemelding

Washington/Zurich, Jan. 15, 2019 (GLOBE NEWSWIRE) -- Credit Suisse, one of the world's leading financial services providers, is partnering with the Consultative Group to Assist the Poor (CGAP) to support its work in building inclusive and responsible financial systems that help people move out of poverty, protect their economic gains and advance the broader global development agenda. CGAP is a global partnership of more than 30 leading development agencies, private foundations and national governments committed to financial inclusion as a means toward expanding opportunities for poor people. Through their engagement, CGAP and Credit Suisse will capitalize upon and leverage each other’s knowledge to further financial inclusion and its contribution toward achieving the United Nations’ Sustainable Development Goals (SDGs). Among the projects that align well with Credit Suisse’s expertise are CGAP’s work on sustainable business models that use digital finance technologies to lower the cost

TrueCommerce Recognized as a Leader in IDC MarketScape for Worldwide Multi-Enterprise Supply Chain Commerce Network15.1.2019 14:00Pressemelding

-- “The vendor offers a true partnership for their customers and has become an extension of their internal staff and resources to manage their supply chains,” says the report -- PITTSBURGH, Jan. 15, 2019 (GLOBE NEWSWIRE) -- TrueCommerce, a global provider of trading partner connectivity, integration and unified commerce solutions , has announced today it was positioned in the Leaders category of the IDC MarketScape for Worldwide Multi-Enterprise Supply Chain Commerce Network report. The research states that TrueCommerce offers a broad set of supply chain applications that extend far beyond traditional data transportation. “Our investments into the cutting-edge unified commerce technology and customer care allowed the company to make this qualitative leap, and we are proud to be recognized by such a reputable global research firm as IDC,” said TrueCommerce president Ross Elliott. “The report advises companies to engage with a network vendor that is at least thinking about what tomorrow

UnionBank Launches First Fully Digital Branch in the Philippines15.1.2019 13:30Pressemelding

Appian Cloud Platform Enables Low-Code Rapid Application Development for Powerful Process Automation RESTON, Va. and SYDNEY, Australia , Jan. 15, 2019 (GLOBE NEWSWIRE) -- Appian (NASDAQ: APPN) announces that UnionBank of the Philippines used the Appian Platform to launch its first fully digital branch. The branch, called The Ark, completely transforms the customer experience, making that experience entirely digital, including internet-connected self-service kiosks and virtual reality boxes. Unlike traditional bank branches, The Ark has done away with rows of tellers and long queues, and gone completely paperless. Customers now go to one of the self-service iPad stands stationed around the bank, where they can type in their request, significantly reducing time previously spent waiting in queues for service. “The Ark is an award-winning digital branch that provides a modern experience for our clients within a traditional brick and mortar store,” said Anna Maria Aboitiz Delgado, Head for

Magna Announces Outlook15.1.2019 11:00Pressemelding

Sales growth and increased EBIT Margin1 over outlook period Higher free cash flow2 in 2019-2021 period, compared to 2018-2020 AURORA, Ontario, Jan. 15, 2019 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG; NYSE: MGA) today announced its financial outlook for 2019 and 2021. Our outlook to 2021 anticipates continued growth in total sales and improvement in our EBIT Margin compared to 2018 despite our expectation of relatively level light vehicle production across our major end markets of North America and Europe during this same outlook period. Free cash flow is expected to increase to a cumulative total of more than $6.5 billion in the 2019-2021 timeframe as compared to over $6 billion in the 2018-2020 period, reflecting an anticipated increase in earnings and relatively level capital spending. For 2019, our sales are expected to be negatively impacted by the announced disposition of our Fluid Pressure & Controls business, net of acquisitions, and by foreign currency translation,