Carpenter Technology Corporation (NYSE: CRS) announced yesterday that it has agreed to acquire the assets of ARwin Machining Plus, Ltd. for approximately $1.4 million dollars, with an expected closing by December 15, 2011. The assets will become integrated into the Canadian division of Amega West Services, a subsidiary of Carpenter Technology that specializes in directional drilling manufacturing. Both companies are located in Nisku, Alberta.
“We see tremendous growth opportunities for Amega in the energy market in Canada, specifically for oil and gas applications. This acquisition enhances our machining capabilities through added expertise and positions us to be even more responsive to our customers and develop new directional drilling applications.”
Reddy Godula, President of Amega West said, “We see tremendous growth opportunities for Amega in the energy market in Canada, specifically for oil and gas applications. This acquisition enhances our machining capabilities through added expertise and positions us to be even more responsive to our customers and develop new directional drilling applications.”
“The energy market is one of the key industries our global strategy has targeted for growth. As opportunities arise, we will continue to enhance our capabilities in order to provide value-added solutions to our customers,” said William A. Wulfsohn, President and Chief Executive Officer of Carpenter Technology.
Carpenter acquired Amega West in December 2010, and acquired Oilfield Alloys as a geographic complement in June 2011. Amega West Services is based in Texas, with locations in Louisiana, Oklahoma, Pennsylvania, Wyoming, Canada, Dubai, and Singapore.

about Carpenter Technology

Carpenter Technology produces and distributes conventional and powder metal specialty alloys, including stainless steels, titanium alloys, tool steels, and superalloys.

www.cartech.com