Carpenter Technology CEO Addresses AIST and AWMI Pittsburgh Chapters at Joint Meeting
A group of 250 gathered for a networking reception before hearing from William A. Wulfsohn, president and chief executive officer of Carpenter Technology Corp.
Carpenter, which will be celebrating its 125th anniversary next year, is a Wyomissing, Pa.-based specialty steel producer which is growing and expanding around the world. Every dollar made over the past few years has been invested back in the business, Wulfsohn said. The company believes in investing in its people; it has hired around 2,000 people over the last three years.
Technology is key to Carpenter’s success, Wulfsohn told meeting attendees, as it focuses on supplying specialty products such as ultra-premium and vacuum-melted steels for critical-to-fail applications. Two-thirds of its net sales are made in the aerospace, energy and medical sectors. The company sees its largest end market, aerospace, as a growth market. Energy is its fastest-growing market, and medical is currently the most-challenging market, Wulfsohn said, but it has great potential.
The acquisition of Latrobe Specialty Steel in 2012 was a significant addition to the company’s operations: the synergies have been roughly double what was originally anticipated. Carpenter’s US$518 million investment in a new facility in Athens, Ala., will be a game-changer for the company, Wulfsohn said. The movement of hot metal at the new superalloy powder facility is expected by the end of 2013, and the plant should be fully operational by the end of the first quarter of 2014.
Pictured above: Members of the AIST Pittsburgh Chapter executive committee,
Bill Wulfsohn (center), and members of the AWMI Pittsburgh Chapter board
AIST is a non-profit organization working to advance the technical development, production, processing and application of iron and steel. AWMI is also a non-profit, focused on promoting and supporting the advancement of women in the metal industries. The Pittsburgh Chapters of the two organizations hold a joint meeting each November.