Carpenter
Technology Corp. is expanding capacity to produce aerospace fasteners as part
of a repositioning to high-value metal alloy markets.
The $5
million investment will boost capacity for Dynamet titanium wire and bar in
Clearwater, FL. A wholly-owned subsidiary of Carpenter Technology,
Dynamet is a leading specialty producer for the aerospace fastener industry.
"This
investment will include construction of a new building and installation of
proprietary manufacturing facilities to produce close tolerance, high
performance wire for manufacturing titanium aerospace fasteners," says
William Kent, vice president of Dynamet. "The capacity increase will
address our customers' increasing demand for titanium aerospace fastener wire,
which is projected to escalate with the introduction of new airframes and the
increase in wide-body aircraft production during the next decade."
One example
of new airframe design is the Boeing Dreamliner 787, which will use eight times
more titanium fasteners that the single-aisle Boeing 737.
|
The
Dreamliner
is best known for its use of lightweight carbon composites in the fuselage and
wing. But titanium is also a big player in the aircraft's design because of its
high strength-to-weight ratio. According to data supplied by Boeing to Design
News, titanium makes up 15 percent of the materials in the Dreamliner by
volume.
Carpenter
Technology, which was founded in 1889, has accelerated efforts in recent years
to focus on specialty alloys, which represent only 2 percent of total industry
volume, but more than 9 percent of total revenue. The average selling price of
carbon steel is 28 cents per pound versus $1.28 per pound for stainless, $7.25
per pound for superalloys and $25 per pound for titanium.
Specialties grow
In recent
years, even stainless markets have become commoditized. In 2004, stainless
steel represented 48 percent of Carpenter Technology's total revenue, while specialty
alloys were 40 percent. By last year, specialty alloys represented 53 percent
of the company's market share, while stainless had dropped to 34 percent.
Another
high-value platform for Carpenter technology is powder metals.
Late last
year, Carpenter Technology announced plans to acquire a 40 percent interest in
Sandvik Powdermet AB and Sandvik AB is acquiring a 40 percent interest in
Carpenter Powder Products AB.
The joint
venture will provide Carpenter with access to Sandvik Powdermet AB's market for
near-net-shape powder products, and will ensure Sandvik's long-term supply of
high quality powder.
According to
a
report from BCC
Research, sales of powder metal components are growing 14 percent per year.
Injection molding permits design of complex shapes not possible through
traditional metal forming approaches.
High-growth
markets targeted by Carpenter Technology are aerospace, energy and automotive.
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