Carpenter to Sell Distribution Businesses

Carpenter Technology Corporation

has commenced a process to sell Latrobe Specialty Steel Distribution (LSSD) and its Mexican distribution business, Aceros Fortuna. The sale of the distribution businesses reflects Carpenter's continued focus on growing its high-value specialty alloy manufacturing, titanium processing, and precision engineered businesses. “LSSD and Aceros Fortuna are well managed, strong, profitable businesses with good employees and solid growth prospects; however, distribution of tool and alloy steel products is not part of our core focus of manufacturing and selling specialty materials for the aerospace, energy, and other high-growth markets,” said William A. Wulfsohn, President & CEO of Carpenter Technology.