Hardmetal specialist Carpenter Technology is to buy substantially all of the assets and business of Puris LLC, a producer of titanium powder for additive manufacturing (AM) and advanced technology applications, for U$35 million.

The assets and business to be acquired include Puris’ titanium powder operations and business, AM assets, patents and related intellectual property.

‘This acquisition will provide Carpenter with immediate entry into the rapidly expanding titanium powder market and is consistent with our strategic focus on strengthening our leadership position in important growth areas,’ said Tony Thene, Carpenter’s president & CEO.

‘The addition of titanium powder to Carpenter’s existing capabilities is significant due to the current and anticipated demand increases from the additive manufacturing industry, which produces mission critical parts supplied to aerospace and medical markets, as well as other markets,’ said Stephen Peskosky, vice president of corporate development at Carpenter.

Early entry

As a result of the transaction, Carpenter will enter the titanium powder market significantly earlier than previously planned and will reduce its planned fiscal year 2017 capital expenditures by approximately US$20 million, the company said.

Puris’ existing site will operate as a functional unit of Carpenter Powder Products, complementing Carpenter’s existing broad portfolio of powder metallurgy offerings.

This story uses material from Carpenter, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.