Carpenter Technology Corporation said Tuesday they will build a new plant in Limestone County across the street from their $518 million ultra-premium product manufacturing building, which is set to open in the spring.
“Alabama is proving to be an excellent region for us,” said William A. Wulfsohn, Carpenter’s President & CEO. “There were several reasons why we selected Athens two years ago, including the location being ideal for future growth and expansion. We also remain extremely impressed with our access to a strong pool of skilled workers.”
The superalloy powder plant is scheduled to begin production in late 2015. Once assembly starts, the company will supply superalloy powder for use in aircraft engines.
Carpenter expects demand for superalloy powder to grow substantially as aircraft engine operating temperatures continue to increase as airlines pursue improvements in fuel efficiency. The company’s entrance into this market segment reflects its confidence in superalloy powder demand for additional applications such as those used in energy and additive manufacturing.
“The capital cost of this project falls within the annual $120 million capital spend guidelines that were previously outlined for the period following the completion of the main Athens plant,” said Tony Thene, Carpenter’s CFO.
When both manufacturing plants are up and running at full power in Athens, Thene said they expect to employ 250 people by 2017.
Today’s announcement comes just three weeks after Carpenter Technology Corporation announced an agreement with United Technology Corporation, through its Pratt & Whitney Division. The agreement includes licensing technology associated with the production of superalloy powders and a supply agreement for up to 20 years.
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