Machining Bar suits demanding applications.

Press Release Summary:



Project 70+® premium stainless steel machining alloys are offered in 6 grades and provide more lot-to-lot consistency, faster machining speeds, better part output and less tool wear than comparable products. Grades include Type 303, Type 304/304L, Type 316/316L, Type 416, Custom 630, and 15Cr-5Ni. Bar is offered in sizes ranging from .125 to 3.25 in. in standard increments.



Original Press Release:


Carpenter Launches New Brand of Premium Stainless Machining Bar


Product Designed to Give U.S. Fabricators Better Bottom-Line Results

Wyomissing, Pa. (October 3, 2002) -- Carpenter Technology Corporation (NYSE:CRS) announced today that it has launched a new line of premium stainless machining alloys that provide parts-makers with more lot-to-lot consistency, faster machining speeds, better part output and less tool wear than any comparable product in the marketplace.

The new brand, Project 70+(R) stainless, is designed for the more demanding machining applications of U.S. machine shops that make parts for aerospace, industrial, automotive and other markets.

Project 70+ stainless is available in six grades;

Project 70+(R) Type 303 stainless

Project 70+(R) Type 304/304L stainless

Project 70+(R) Type 316/316L stainless

Project 70+(R) Type 416 stainless

Project 70+(R) Custom 630 stainless

Project 70+(R) 15Cr-5Ni stainless

It will be sold in sizes ranging from .125 inches to 3.25 inches in standard increments.

Project 70+(R) stainless combines the premium machinability of Project 7000(R) stainless with the versatility of Project 70(R) stainless, says Matt Enoch, Carpenter Bar Product manager. Its a workhorse product that delivers thoroughbred results.

The introduction of Project 70+(R) stainless strengthens Carpenter's legacy of technological leadership in stainless free-machining bar, which has been used in hundreds of applications from computer fasteners to industrial components.

Carpenter invented the world's first free-machining stainless steel in 1928 and in the 1960s improved the chemistry to create Project 70(R) stainless, the industry's first premium machining bar line. In the mid-90s, Carpenter introduced Project 7000(R) stainless, which further enhanced machinability.

Project 70+(R) stainless, introduced today, replaces the two previous brands by combining the best features of each. Carpenter is launching the product through a multi-phase marketing campaign that includes print advertising, direct mail, Internet banner ads, and a new Carpenter Web site, www.machiningzone.com.

Carpenter Technology Corporation, based in Wyomissing, Pa., is a leading manufacturer and distributor of specialty alloys and various engineered products. The company had sales of $977 million in fiscal year 2002, ended June 30. More information about Carpenter is available at www.cartech.com, with selected products for sale at www.carpenterdirect.com.

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