PHILADELPHIA, March 01, 2017 (GLOBE NEWSWIRE) -- Carpenter Technology Corporation (NYSE:CRS) announced the completion of its previously announced acquisition of substantially all of the assets and business of Puris LLC, a producer of titanium powder for additive manufacturing and advanced technology applications. The purchase price was $35 million. The acquisition included Puris’ manufacturing assets, patents and related intellectual property.

The addition of Puris provides Carpenter with immediate entry into the rapidly growing titanium powder market, an expanded presence in additive manufacturing and strengthens the Company’s capabilities as a solutions provider for customers across its end-use markets. Operations will continue at Puris’ existing production site in Bruceton Mills, WV and the facility will operate as a functional unit of Carpenter Powder Products.

About Carpenter Technology

Carpenter Technology Corporation is a leading producer and distributor of premium specialty alloys, including titanium alloys, nickel and cobalt based superalloys, stainless steels, alloy steels and tool steels. Carpenter’s high-performance materials and advanced process solutions are an integral part of critical applications used within the aerospace, transportation, medical and energy markets, among other markets. Building on its history of innovation, Carpenter’s powder technology capabilities support a range of next-generation products and manufacturing techniques, including additive manufacturing and 3D Printing. Information about Carpenter can be found at www.cartech.com.