Carpenter Technology Corporation
Encyclopedia
Carpenter Technology Corporation is a globally recognized developer, manufacturer and distributor of cast wrought and powder metallurgy specialty alloys/metals including superalloys, ultra-high strength steels, and stainless steel
, as well as titanium
alloys in a range of product forms. Headquartered in Reading
, Pennsylvania
, Carpenter Technology maintains manufacturing and distribution operations throughout the United States, Mexico, Europe and Asia. Its most recent facility is a service center in China.
In addition to the specialty alloys operation based in Reading, Carpenter acquired Dynamet Incorporated, Washington, Pa., a titanium alloy producer, and placed its tool steel and powder metallurgy business in the Carpenter Powder Products unit during the 1990s. In January 2011, the company announced the acquisition of Houston-based Amega West Services for $54 million; the deal expands Carpenter's business in the oil and gas drilling market (Amega West manufactures and services complex drilling components).
About 35% of revenue comes from business abroad, over half of that from Europe (56% of international sales), 22% from the rest of North America (Mexico 14%, Canada 8%), Asia pacific 17% with the rest of the world accounting for the other 5%. For the fiscal year ended June 2010 company net sales amounted to $1.2 billion 54% of which came from the sale of special alloy products (up 3% from the year before), 33% from stainless steels (down 1%), 9% from titanium products (down 1%) and 4% from other types (down 1% from the previous year). The aerospace (43% of revenue) and industrial (23%) industries are by far the largest end users of Carpenter Technology; their relative importance to business was unchanged between 2009 and 2010. Among other end users ($403.9 million in business in 2010) the consumer endustry (10% of net sales) was most important (breaking a tie with medical the year before) followed by medical (9%) and automotive (8%).
for an improved air-hardened steel. In 1937 the company went public and began trading on the New York Stock Exchange
.
heavier-than-air “aeroplanes,” and today Carpenter supplies specialty materials that have been used in jet engine
blades, electronics, landing gear
, flap and slat track components, and titanium alloy
fasteners, among other uses.
Also around this time, Carpenter began supplying steels to the makers of “motor cars” for valves, connecting rod
s, axles, steering knuckles, etc.
Carpenter’s experience in these early markets led to materials advances in the energy
, medical, industrial and consumer products industries in the coming decades.
s. Carpenter metallurgists pioneered improvements and in 1928, announced the world’s first free-machining
, straight-chrome stainless, Type 416 (still in use today). Other improvements and alloy development followed, culminating in an improved-machinability family of machining bar, Project 70+ stainless, in 2002.
In high-strength alloys, Carpenter received a patent
in 1992 for super-strong AerMet 100 alloy, first used for the landing gear
on aircraft-carrier
-based jet fighters. AerMet 100 was named one of the top material advances of the decade by the National Association for Science, Technology and Society.
More recently, Carpenter developed the Carpenter CTS family of 14 alloys to assist knife blade designers in alloy selection. In 2009 Carpenter began supplying its cobalt-based BioBlu 27 alloy into the jewelry industry and in 2010, developed ACUBE 100 alloy, a beryllium-free material for bushings and bearings. Also in 2010, Carpenter launched PremoMet alloy to consider for high demand diesel engine components.
Steel
Steel is an alloy that consists mostly of iron and has a carbon content between 0.2% and 2.1% by weight, depending on the grade. Carbon is the most common alloying material for iron, but various other alloying elements are used, such as manganese, chromium, vanadium, and tungsten...
, as well as titanium
Titanium
Titanium is a chemical element with the symbol Ti and atomic number 22. It has a low density and is a strong, lustrous, corrosion-resistant transition metal with a silver color....
alloys in a range of product forms. Headquartered in Reading
Reading, Pennsylvania
Reading is a city in southeastern Pennsylvania, USA, and seat of Berks County. Reading is the principal city of the Greater Reading Area and had a population of 88,082 as of the 2010 census, making it the fifth most populated city in the state after Philadelphia, Pittsburgh, Allentown and Erie,...
, Pennsylvania
Pennsylvania
The Commonwealth of Pennsylvania is a U.S. state that is located in the Northeastern and Mid-Atlantic regions of the United States. The state borders Delaware and Maryland to the south, West Virginia to the southwest, Ohio to the west, New York and Ontario, Canada, to the north, and New Jersey to...
, Carpenter Technology maintains manufacturing and distribution operations throughout the United States, Mexico, Europe and Asia. Its most recent facility is a service center in China.
In addition to the specialty alloys operation based in Reading, Carpenter acquired Dynamet Incorporated, Washington, Pa., a titanium alloy producer, and placed its tool steel and powder metallurgy business in the Carpenter Powder Products unit during the 1990s. In January 2011, the company announced the acquisition of Houston-based Amega West Services for $54 million; the deal expands Carpenter's business in the oil and gas drilling market (Amega West manufactures and services complex drilling components).
About 35% of revenue comes from business abroad, over half of that from Europe (56% of international sales), 22% from the rest of North America (Mexico 14%, Canada 8%), Asia pacific 17% with the rest of the world accounting for the other 5%. For the fiscal year ended June 2010 company net sales amounted to $1.2 billion 54% of which came from the sale of special alloy products (up 3% from the year before), 33% from stainless steels (down 1%), 9% from titanium products (down 1%) and 4% from other types (down 1% from the previous year). The aerospace (43% of revenue) and industrial (23%) industries are by far the largest end users of Carpenter Technology; their relative importance to business was unchanged between 2009 and 2010. Among other end users ($403.9 million in business in 2010) the consumer endustry (10% of net sales) was most important (breaking a tie with medical the year before) followed by medical (9%) and automotive (8%).
Beginnings
The company was founded by James H. Carpenter and a small group of New York City investors on June 1, 1889 as the Carpenter Steel Company. He envisioned methods to improve the process of steel manufacturing. In 1896, James Carpenter received the company's first patentPatent
A patent is a form of intellectual property. It consists of a set of exclusive rights granted by a sovereign state to an inventor or their assignee for a limited period of time in exchange for the public disclosure of an invention....
for an improved air-hardened steel. In 1937 the company went public and began trading on the New York Stock Exchange
New York Stock Exchange
The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
.
Markets
During the early 20th century, Carpenter's "special" steels were used in Wright Brothers'Wright brothers
The Wright brothers, Orville and Wilbur , were two Americans credited with inventing and building the world's first successful airplane and making the first controlled, powered and sustained heavier-than-air human flight, on December 17, 1903...
heavier-than-air “aeroplanes,” and today Carpenter supplies specialty materials that have been used in jet engine
Jet engine
A jet engine is a reaction engine that discharges a fast moving jet to generate thrust by jet propulsion and in accordance with Newton's laws of motion. This broad definition of jet engines includes turbojets, turbofans, rockets, ramjets, pulse jets...
blades, electronics, landing gear
Landing Gear
Landing Gear is Devin the Dude's fifth studio album. It was released on October 7, 2008. It was his first studio album since signing with the label Razor & Tie. It features a high-profile guest appearance from Snoop Dogg. As of October 30, 2008, the album has sold 18,906 copies.-Track...
, flap and slat track components, and titanium alloy
Titanium alloy
Titanium alloys are metallic materials which contain a mixture of titanium and other chemical elements. Such alloys have very high tensile strength and toughness , light weight, extraordinary corrosion resistance, and ability to withstand extreme temperatures...
fasteners, among other uses.
Also around this time, Carpenter began supplying steels to the makers of “motor cars” for valves, connecting rod
Connecting rod
In a reciprocating piston engine, the connecting rod or conrod connects the piston to the crank or crankshaft. Together with the crank, they form a simple mechanism that converts linear motion into rotating motion....
s, axles, steering knuckles, etc.
Carpenter’s experience in these early markets led to materials advances in the energy
Energy industry
The energy industry is the totality of all of the industries involved in the production and sale of energy, including fuel extraction, manufacturing, refining and distribution...
, medical, industrial and consumer products industries in the coming decades.
Materials Experience
By the 1920s, Carpenter devoted research to a new realm of specialty metals: stainless steelStainless steel
In metallurgy, stainless steel, also known as inox steel or inox from French "inoxydable", is defined as a steel alloy with a minimum of 10.5 or 11% chromium content by mass....
s. Carpenter metallurgists pioneered improvements and in 1928, announced the world’s first free-machining
Free machining steel
Free machining steel is steel that forms small chips when machined. This increases the machinability of the material because smaller chips reduce the length of contact between the workpiece and the cutting tool, thus reducing friction, heat, power required, and wear on the tool. It also reduces the...
, straight-chrome stainless, Type 416 (still in use today). Other improvements and alloy development followed, culminating in an improved-machinability family of machining bar, Project 70+ stainless, in 2002.
In high-strength alloys, Carpenter received a patent
Patent
A patent is a form of intellectual property. It consists of a set of exclusive rights granted by a sovereign state to an inventor or their assignee for a limited period of time in exchange for the public disclosure of an invention....
in 1992 for super-strong AerMet 100 alloy, first used for the landing gear
Landing Gear
Landing Gear is Devin the Dude's fifth studio album. It was released on October 7, 2008. It was his first studio album since signing with the label Razor & Tie. It features a high-profile guest appearance from Snoop Dogg. As of October 30, 2008, the album has sold 18,906 copies.-Track...
on aircraft-carrier
Aircraft carrier
An aircraft carrier is a warship designed with a primary mission of deploying and recovering aircraft, acting as a seagoing airbase. Aircraft carriers thus allow a naval force to project air power worldwide without having to depend on local bases for staging aircraft operations...
-based jet fighters. AerMet 100 was named one of the top material advances of the decade by the National Association for Science, Technology and Society.
More recently, Carpenter developed the Carpenter CTS family of 14 alloys to assist knife blade designers in alloy selection. In 2009 Carpenter began supplying its cobalt-based BioBlu 27 alloy into the jewelry industry and in 2010, developed ACUBE 100 alloy, a beryllium-free material for bushings and bearings. Also in 2010, Carpenter launched PremoMet alloy to consider for high demand diesel engine components.