Carpenter Technology Corp. announced plans to relocate its corporate headquarters to Philadelphia from Wyomissing, Pa., a suburb of Reading, Pa. Carpenter anticipates that the new Philadelphia location will ultimately be home to approximately 100 positions, while nearly 2,300 manufacturing and non-manufacturing personnel will remain in Reading. The company said that no planned job reductions are part of the relocation. Carpenter also plans to establish a shared services facility in Reading with a number of positions moving near the Reading manufacturing facility from the current corporate location in Wyomissing.

The move supports Carpenter's strategic plan to leverage its core technical strength in engineered materials and process capabilities to solve customers’ current and anticipated challenges. Carpenter, which produces and distributes premium alloys (including special alloys, titanium alloys and powder metals), is shifting its focus to apply product and process capabilities that drive total value in a more customer-centric and market-focused manner. The new headquarters will allow the company to deepen its customer relationships and play a more integral role in the development of its customers’ products.