Feb 3, 2017 | By Julia
Carpenter Technology Corporation, a major developer, manufacturer, and distributor of metals and alloys, has just bought Puris, a leading titanium powder producer. The new deal, which is valued at $35 million USD, will see Carpenter execute a definitive asset purchase agreement for the purchase of all Puris assets and business. All of Puris’ titanium powder operations, additive manufacturing assets, patents, and related intellectual property will now be under the Carpenter umbrella.
The strategic move comes in the midst of a rapidly growing 3D printing powders market, which is expected to reach $639.9 million by 2020. Carpenter has now effectively secured itself a sizeable chunk of that market, although earlier than was initially planned.
“This acquisition will provide Carpenter with immediate entry into the rapidly expanding titanium powder market and is consistent with our strategic focus on strengthening our leadership position in important growth areas,” said Tony Thene, Carpenter’s President & CEO.
“Puris brings industry leading technology and processes for the production of titanium powder, additive manufacturing part production capabilities, a talented team, attractive intellectual property, and established customer relationships,” Thene said. “The strengths of Puris, coupled with Carpenter’s reputation as an industry leading producer of premium alloys and our global commercial reach, will allow us to further deliver on the growing needs of our customers.”
The Puris facility in West Virginia will become a functional unit of Carpenter Powder Products
While not unexpected, the business venture comes earlier than Carpenter had previously let on. As a result of its promptness, the Carpenter company will be reducing its planned fiscal year 2017 capital spending by about $20 million.
All operations are scheduled to continue at Puris’ existing site in Bruceton Mills, WV. The facility will move forward as a functional unit of Carpenter Powder Products, a significant expansion of Carpenter’s already broad portfolio.
According to a report published in late 2015 by independent market research firm MarketsandMarkets, the 3D printed powder market is expected to grow significantly in the next few years. In line with the Carpenter purchase, metal powders are reported to be the most dominant of 3D printed powders currently. Carpenter currently weighs in as one of the most powerful companies in the global 3D printing powder market, and certainly a leading company in the US. According to the report, North America is currently the most dominant region in the market and is expected to remain on top in the coming years.
The Carpenter-Puris transaction is currently undergoing customary closing conditions, and is expected to wrap up by the end of March 2017.
Posted in 3D Printing Materials
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