Carpenter Completes Sale of Ceramics Businesses
04/02/2008 - Carpenter Technology completes the sale of its ceramics businesses—Certech and Carpenter Advanced Ceramics—to U.K.-based Morgan Crucible plc.
Carpenter Technology Corp. has completed the sale of its ceramics businesses—Certech and Carpenter Advanced Ceramics—to U.K.-based Morgan Crucible Co. plc.
Carpenter had announced the sale in late December, explaining that the sale reflected the company’s focus on global markets for high-performance specialty alloy products
The businesses were sold on March 31, 2008 on a cash and debt-free basis for approximately $145 million.
Carpenter Technology produces and distributes specialty alloys, including stainless steels, titanium alloys and superalloys, and various engineered products.
Certech produces complex injection-molded ceramic components used in investment casting of turbine engine blades and vanes for aircraft and power generation applications. It employs 766 workers at seven locations in the U.S., U.K. and Mexico.
Carpenter Advanced Ceramics, with 145 employees in the U.S. and Australia, produces technical ceramics, industrial ceramics and high-purity alumina and zirconia structural ceramic components for a variety of applications and industries.
