Carpenter Technology Corporation and Sandvik Materials Technology have announced that they will dissolve their two-year old joint ventures – Powdermet AB in Surahammar, Sweden and Carpenter Powder Products AB in Torshälla, Sweden.
The two companies have agreed that the growth of their respective powder metal businesses would be better served in the form of a supply agreement, by which Carpenter will supply Sandvik. Joint development activities within near-net shape (NNS) will continue within the new set-up of cooperation.
In October 2010, Carpenter acquired a 40% interest in Sandvik Powdermet AB, while Sandvik AB acquired a 40% interest in Sweden-based Carpenter Powder Products (CPP) AB.
The two joint ventures will be fully dissolved by the end of the calendar year.
Carpenter Technology, based in Wyomissing, PA, USA, produces and distributes specialty alloys, including stainless steels, titanium alloys and superalloys, and various engineered products.
Sandvik Materials Technology is a world-leading developer and manufacturer of products in advanced stainless steels and special alloys for the most demanding environments, as well as products and systems for industrial heating.
Posted by: Paul Whittaker, Editor ipmd.net, [email protected]