Carpenter Technology Performs $115 Million Upgrade on Pennsylvania Steel Mill

SUGAR LAND--July 3, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--In September 2006, Carpenter Technology Corporation (NYSE:CRS) (Reading, Pennsylvania) announced plans to expand its steel mill with an investment of $115 million. Less than a year later, they began the expansion. The goal was to expand the premium melt capacity by as much as 40%, providing new production rates of about 500,000 tons per year. Although the project was originally estimated to be completed in the third quarter of 2009, all signs indicate that this project will be completed in the first quarter of next year.