Carpenter and SB Specialty Metals Expand Agreement
SB now purchases 100 percent of its requirements for PM tool and high speed steels from Carpenter and has exclusive North American distribution rights to use the Micro-Melt® trademark in marketing and selling its products.
Carpenter Technology Corporation (Wyomissing, PA) recently announced an expanded long-term marketing and supply agreement between its subsidiary, Carpenter Powder Products (CPP), and strategic customer SB Specialty Metals LLC (SB; Troy, MI).
CPP is the leading global producer of gas atomized powder metal (PM) products, serving a variety of industries and has facilities in Pennsylvania, Rhode Island and Sweden. SB is the largest tool steel distributor in the U.S., with 11 warehouse locations.
Under the expanded agreement, SB will purchase 100 percent of its requirements for PM tool and high speed steels from CPP. The agreement will also grant SB exclusive North American distribution rights to use the Micro-Melt® trademark in marketing and selling its products directly related to this deal.
“This type of long-term agreement demonstrates SB’s confidence in our ability to provide the very best products in support of their distribution business,” said Sanjay Guglani, the Carpenter vice president of performance engineered products. “Both Carpenter and CPP are excited to play such an integral role in SB’s immediate and future business plans.”
“This agreement will extend the strong strategic relationship between SB and CPP through 2030 and will provide accelerated growth opportunities for both companies in this market area,” added Peter Gordon, the president of SB Specialty Metals. “The strength of their powder making capabilities, combined with our expertise and experience in sales and marketing of PM products, will prove to be a formidable combination. This takes our strategic relationship with CPP to a new level.”
CPP has been working with SB Specialty Metals since SB’s formation in 2010.
Carpenter Technology produces and distributes specialty alloys, including stainless steels, titanium alloys and superalloys, and various engineered products. www.cartech.com