Carpenter Technology Corp. will purchase substantially all of the assets and business of Puris LLC, a Bruceton Mills, W.V.-based producer of titanium powder for additive manufacturing and advanced technology applications, for $35 million. The assets and business to be acquired include Puris’ titanium powder operations and business, additive-manufacturing assets, patents and related intellectual property. Operations will continue at the existing site, which is well positioned for future expansion and will operate as a functional unit of Carpenter Powder Products.
The acquisition will provide Carpenter with immediate entry into the rapidly expanding titanium powder market. According to Carpenter, the addition of titanium powder to its existing capabilities is significant due to the current and anticipated demand increases from the additive-manufacturing industry. The transaction is subject to customary closing conditions and is expected to close in late March.