Carpenter Introduces Electrode Surcharge Effective December 1, 2017

PHILADELPHIA, Nov. 13, 2017 (GLOBE NEWSWIRE) -- Carpenter Technology Corporation (NYSE:CRS) announced today that it will implement an initial graphite electrode surcharge of $.03 - $.05 per pound for all ARC-melted alloy grades effective with shipments occurring after November 30, 2017. The new surcharge will be included as part of the monthly raw material surcharge and will be adjusted in accordance with Carpenter's published surcharge prices.

The new surcharge is due to a substantial increase in prices by graphite electrode manufacturers. Graphite electrodes are used as part of the ARC-melted steelmaking process.

About Carpenter Technology

Carpenter Technology Corporation is a leading producer and distributor of premium specialty alloys, including titanium alloys, nickel and cobalt based superalloys, stainless steels, alloy steels and tool steels.  Carpenter's high-performance materials and advanced process solutions are an integral part of critical applications used within the aerospace, transportation, medical and energy markets, among other markets.  Building on its history of innovation, Carpenter's powder technology capabilities support a range of next-generation products and manufacturing techniques, including additive manufacturing and 3D Printing.  Information about Carpenter can be found at www.cartech.com.

Media Inquiries:           William J. Rudolph, Jr. +1 610-208-3892         wrudolph@cartech.com           

Investor Inquiries:Brainerd CommunicatorsBrad Edwards+1 212-986-6667 edwards@braincomm.com

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