The Department of Defense awarded a technology investment agreement to Latrobe Specialty Steel (LSS) to reduce production lead times by increasing production capacity for specific vacuum melted or remelted alloys. These specialty steels become militarily essential parts like torsion bars on fighting vehicles, hot sections of jet engines or rotor shafts for helicopters. LSS, headquartered in Latrobe, Pa., will contribute approximately $53.4 million to match the Department of Defense’s $16.6 million award. The company’s new vacuum-melting facility and its support resources will employ approximately 40 additional people in Westmoreland and Venango Counties in Pennsylvania.
Title III of the Defense Production Act provides financial incentives to domestic firms to make investments in production capabilities for vital security needs. Three studies spanning more than two years confirmed that a lack of vacuum-melted, high-strength, iron-based steels hurts troop readiness. LSS has been supplying the aerospace and defense sectors since 1958.
Report Abusive Comment