Carpenter Technology to Increase Base Prices on Specialty Alloy Portfolio
Carpenter Technology Corporation, a leading provider of high-performance specialty alloy-based materials and process solutions, has announced a price increase on its premium products. The company will implement a base price increase ranging from seven percent to twelve percent on new, non-contract orders across a majority of its offerings. This move is aimed at ensuring continued growth and profitability for Carpenter Technology.
With the price increase set to take effect from October 8, 2023, Carpenter Technology is demonstrating its commitment to delivering exceptional value to its customers. The company’s premium specialty alloys, including titanium, nickel, and cobalt, are widely recognized for their superior quality and performance. These materials find critical applications in industries such as aerospace, defense, transportation, energy, industrial, medical, and consumer electronics.
Carpenter Technology’s dedication to innovation is evident in its engineering of alloys specifically tailored for additive manufacturing (AM) processes and soft magnetics applications. By continuously pushing the boundaries of material science, the company remains at the forefront of technological advancements, enabling its customers to achieve new levels of efficiency and productivity.
The decision to increase prices reflects the current market dynamics and the need to address various factors impacting Carpenter Technology’s business. These factors include the cyclical nature of the specialty materials industry, potential changes in competitors, customers, and suppliers, as well as fluctuations in energy costs, raw material prices, and currency exchange rates.
Carpenter Technology’s proactive approach to managing these challenges ensures the company’s ability to generate cash, drive growth, and maintain profitability. Additionally, the company’s focus on strategic acquisitions and successful integration further strengthens its position in the market.
As a responsible corporate citizen, Carpenter Technology is committed to maintaining strong relationships with its employees, customers, and stakeholders. The company places great emphasis on attracting and retaining top talent, ensuring that its workforce is equipped with the necessary skills and expertise to drive innovation and deliver exceptional customer service.
In light of the ongoing COVID-19 pandemic, Carpenter Technology remains vigilant in safeguarding its operations and supporting the global efforts to mitigate the impact of the virus. The company has implemented comprehensive business continuity plans to ensure the safety of its employees and the uninterrupted supply of its products to customers.
Carpenter Technology’s dedication to excellence, coupled with its commitment to meeting the evolving needs of its customers, positions the company for continued success in the highly competitive specialty materials industry. With its premium products and innovative solutions, Carpenter Technology remains a trusted partner for businesses across various sectors, enabling them to achieve their goals and drive progress in their respective industries.
For more information about Carpenter Technology and its wide range of specialty alloy-based materials and process solutions, please visit www.carpentertechnology.com.