Pennsylvania-based Carpenter Technology Corporation has announced a USD $35 million deal to purchase titanium additive manufacturing powder producer Puris LLC. Under the deal, Carpenter, a leading provider of specialty alloys, will acquire PurisÂ’ titanium powder operations and business, additive manufacturing assets, patents and related intellectual property.
The deal will allow Carpenter to enter the titanium powder market earlier than previously planned. Operations will continue at the existing site and operate as a functional unit of Carpenter Powder Products, complementing the company’s existing powder metallurgy offerings. The transaction is subject to customary closing conditions and closing is expected to occur during the quarter ended March 31, 2017.