Major Aerospace Manufacturer Testing CarTech Custom 565(TM) Alloy
16 June 2015 - 3:00PM
Media Inquiries
William J. Rudolph, Jr.
(610) 208
-3892
wrudolph@cartech.com
Investor Inquiries:
Michael A. Hajost
(610) 208-3476
mhajost@cartech.com
Major Aerospace
Manufacturer Testing CarTech Custom 565(TM) Alloy
New
Aerospace Alloy Combines Corrosion-Resistance and Strength for
Landing Gear Application
WYOMISSING, Pa. (June 16, 2015) - Carpenter Technology Corporation
(NYSE:CRS) announced today that the company is currently working
with a major aerospace manufacturer to qualify a new
corrosion-resistant, high-strength percipitation hardenable (PH)
stainless steel for use in landing gear. CarTech Custom 565(TM)
alloy combines properties of CarTech Custom 465® and CarTech Custom
475® to form a new aerospace alloy that could replace Carpenter's
CarTech 300M alloy steel which is currently being used in landing
gear, structural components, drive shafts, and actuators.
"The potential for CarTech Custom 565 alloy to
become the industry choice for specific aerospace applications is
excellent," said Gregory A. Pratt, Carpenter's Chairman, President
and Chief Executive Officer. "Our CarTech Custom 465 alloy
has been used in aerostructures for more than 15 years and our goal
was to modify the properties to yield a much stronger alloy that
also contains the corrosion-resistant properties the aerospace
industry demands." CarTech Custom 475 alloy is primarily used in
sporting goods.
Testing is expected to take approximately 18
months to complete.
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 the ability
to qualify the new stainless steel for use in landing gear, the
ability to replace CarTech 300M alloy with CarTech Custom 565(TM)
alloy, the potential for CarTech Custom 565 alloy to become the
industry choice for specific aerospace applications, the ability to
determine the demands of the aerospace industry, and the length of
time to complete testing. 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.
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Carpenter Technology Corp. via Globenewswire
HUG#1928662
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