The NYSE listed, Carpenter Technology (CT) based in Nisku, Alberta, has formally agreed to take over the assets of Arwin Machine Plus for $1.4 million. These assets will be integrated with Carpenter Technology’s Canada-based subsidiary, Amega West services specializing in the manufacturing of in directional drilling equipment.
According to Amega West President, Reddy Godula, this asset acquisition provides growth opportunities in the Oil and Gas industry applications in the Canadian energy market. In order to enhance its customers offering in the energy market such acquisitions provide value added services in line with CT’s global growth strategy.
CT manufactures powder metal alloys, tool steel, titanium alloys and other superalloys and distributes them as well. CT had acquired Amega West in December 2010 and subsequently acquired Oilfield Alloys in June 2011 as a strategic geographic complement.
Amega West manufactures precision machined components used in drilling and mining. Apart from this it also offers rental and leasing of tools, CNC machining services, repair and welding services.
CT offers its products and services to the aerospace, automotive, consumer, industrial market, energy and medical industries. As part of its services offering CT provides conversion services, research and development process services, precision machined components and repairs through Amega West. CT also provides testing services for titanium alloys, niobium alloys, steels, nickel and cobalt based alloys as well.
Source: http://www.cartech.com