READING, Pa. - Carpenter Technology Corp., a maker of specialty metal alloys, has put its 4,500-ton press in Berks County back into operation.
The Philadelphia-based company said in a statement Thursday that it combined repairs with maintenance that would have been due later.
"The Reading press is a piece of highly specialized equipment that is critical to producing materials for aerospace and select other end-market applications," Tony R. Thene, chief executive officer and president, said in a statement. Repairs were completed within the company's target time, he said, and "In addition, while making the necessary repairs, we pulled forward some of the normal recurring maintenance activities that would have been necessary later this year."
The company announced the unplanned outage of the press in December.
"With the repairs behind us, we can focus on satisfying customer demand in the aerospace supply chain, where a broad-based recovery continues to take shape," Thene said in the statement.
Carpenter was founded in 1889 and now has 4,234 employees, according to its website. Fiscal year 2020 revenue was $2.18 billion.
Carpenter Technology Stock is traded on the New York Stock Exchange under the ticker symbol CRS. It closed Friday at $36.62. In the past 52 weeks, it has traded as high as $49.20 and as low as $26.84.
Gloss