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Carpenter Technology is acquiring substantially all of the assets and business of Puris, West Virginia-based producer of titanium powder for additive manufacturing and advanced technology applications, for $35MM. The transaction, which is slated to close during 1Q17, includes Puris’ titanium powder operations and business, additive manufacturing assets, patents and related intellectual property. As a result, Carpenter enters the titanium powder market significantly earlier than previously planned.
Operations will continue at the existing site, which will operate as a functional unit of Carpenter Powder Products, complementing Carpenter’s existing portfolio of well-established powder metallurgy offerings.
Puris was founded in 2014, and its team includes pioneers in the evolution of spherical titanium powder atomization. Its production capacity and process enables fulfillment of both high volume demands and custom lots.
Sources: Carpenter Technology Corporation
