Carpenter Technology, United Technologies Sign Multi-Level Agreement

(RTTNews) - Carpenter Technology Corp. (CRS) announced a multi-level agreement with United Technologies Corp. (UTX), through its Pratt & Whitney Division, which includes licensing technology associated with the production of superalloy powders and a long-term supply agreement.

UTC's aerospace business units (Pratt & Whitney, Pratt & Whitney Canada Corp., UTC Aerospace Systems and Sikorsky Aircraft Corporation) have agreed to purchase alloy steel bar/billet, nickel superalloy billet, stainless bar/billet, and strip laminate products from Carpenter for a period of ten years. Carpenter also plans to build a superalloy powder facility to supply Pratt & Whitney with superalloy powder for up to 20 years.

Carpenter Technology Corp. expects the agreement could potentially yield in excess of $600 million in sales over the term of the agreement.