Carpenter Technology Corporation (NYSE:CRS) today announced an expansion of its Dynamet titanium wire and bar facility in Clearwater, Florida.
Dynamet, a wholly-owned subsidiary of Carpenter Technology Corporation, is a leading producer of titanium wire feedstock for the aerospace fastener industry.
"This investment will include construction of a new building and installation of proprietary manufacturing facilities to produce close tolerance, high performance wire for manufacturing titanium aerospace fasteners," said William Kent, Vice President, Dynamet & CPP. "The capacity increase will address our customers' increasing demand for titanium aerospace fastener wire, which is projected to escalate with the introduction of new airframes and the increase in wide-body aircraft production during the next decade."
The facility expansion is expected to cost in excess of $5M.