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Article: Carpenter to acquire specialty metals company, continuing growth strategy.
- Article from:
- Business Wire
- Article date:
- January 23, 1997
CopyrightCOPYRIGHT 1997 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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READING, Pa.--(BUSINESS WIRE)--Jan. 23, 1997--Carpenter Technology Corp. (NYSE:CRS) announced Thursday that it plans to acquire Global Technology Inc. a privately held company that is a major supplier of equipment and services for processing metal bar and wire products.
Carpenter will acquire 100 percent of the stock of Global Technology and its subsidiaries in exchange for approximately $18 million, including the assumption of Global Technology debt. Pending the successful completion of due diligence, the acquisition of the Orwigsburg, Pa., company is expected to be completed in March.
Global has two primary businesses: Shalmet Inc., which provides ...