Carpenter Technology Buys Titanium Powder Firm for $35M

Specialty alloys producer Carpenter Technology Company is acquiring Puris LLC, a manufacturer of titanium powder for advanced manufacturing and advanced technology uses, for $35 million, the Philadelphia-based company announced March 1.

Carpenter said the purchase was part of a move into the titanium powder market, which is expected to grow over the next several years as industrial applications for 3D printing come into use – particularly in the automotive and aerospace sectors.

Included in the transaction are Puris’ manufacturing assets, patents, and intellectual property. Operations at Puris’ Bruceton Mills, WV facility will continue as a unit of Carpenter Powder Products, the company said.

The Philadelphia firm’s high-performance materials and advanced process solutions are used by aerospace, transportation, medical, energy, and other markets.

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