Carpenter Technology Corporation (NYSE: CRS) has finalized the completion of a formal cooperation agreement with United States Steel Corporation (NYSE: X), located in Pittsburgh, Pa., which allows for the development of a new “lightweighting” steel for automotive applications.
Carpenter’s patented alloy, TEMPER TOUGH™ specialized steel alloy, is designed for use in flat-roll automotive applications, as well as other demanding applications. Originally designed for the aerospace industry, the new alloy may help automotive manufacturers meet recently mandated Corporate Average Fuel Requirement (CAFÉ) standards by lightweighting vehicles through mass reduction. TEMPER TOUGH™ specialized steel alloy also offers extraordinarily high-strength and ductility attributes that support ever-increasing safety requirements to be designed into critical automotive support end-uses.
U.S. Steel, a steelmaking leader with decades of experience meeting the needs of automotive customers and their ever-increasing demand for advanced high-strength steels, will develop the grade through its operational footprint.
About Carpenter Technology CorporationCarpenter Technology Corporation, based in Wyomissing, Pa., produces and distributes specialty alloys, including stainless steels, titanium alloys and superalloys, and various engineered products. Information about Carpenter can be found at www.cartech.com. About United States Steel Corporation United States Steel Corporation, headquartered in Pittsburgh, Pa., is an integrated steel producer focused on high value-added flat-rolled and tubular steel products with complex chemistries and attributes that are required by manufacturers in the automotive, appliance, container, construction, industrial machinery, and oil and gas industries. U. S. Steel has major production operations in the United States, Canada and Slovakia and has an annual raw steelmaking capability of 29.3 million net tons. The company is also engaged in several other business activities including the production of iron ore pellets from taconite (rock containing iron) in the United States and the production of coke in both the United States and Central Europe; transportation services (railroad and barge operations); and real estate operations.