Carpenter Technology Corporation has acquired all assets and business of Puris LLC , a Bruceton Mills, WV producer of titanium powder for additive manufacturing and advanced technology applications, for USD 35M. The assets and business acquired include Puris’ titanium powder operations and business, additive manufacturing assets, patents and related intellectual property.
As a result of the transaction, Carpenter will enter the titanium powder market significantly earlier than previously planned and will reduce its planned fiscal year 2017 capital expenditures by approximately USD 20M.
Operations will continue at the existing site, which is well-positioned for future expansion and will operate as a functional unit of Carpenter Powder Products, complementing Carpenter’s existing broad portfolio of well-established powder metallurgy offerings.
The flexibility of Puris’ production capacity and process enables fulfilment of both high volume demands, as well as custom lots.
The transaction is expected to occur during the quarter ended March 31, 2017.
