Carpenter Technology Licenses Ferrium(R) S53 Alloy

Carpenter Technology Corporation (NYSE: CRS) and QuesTek Innovations LLC have entered into a license agreement whereby Carpenter will produce and market QuesTek’s Ferrium S53 ultra high-strength corrosion resistant stainless alloy. QuesTek applied its Materials by Design® technology to create the alloy meeting US Air Force specifications for use in aircraft landing gear. Carpenter’s Vice President Business Development and Chief Technology Officer Sunil Widge stated, "Carpenter is excited to add Ferrium S53 to our portfolio of specialty alloys. By supplementing our existing product offering, which includes Carpenter’s proprietary Custom 465® stainless and AerMet® alloys, we are able to expand our offerings to the aerospace structural market. QuesTek’s innovative materials design methodology has resulted in a unique alloy and promising product for Carpenter.” Ferrium S53 is an alternative to 300M and other high-strength alloys that have been used in landing gear components when there is desire for environmental and performance reasons to eliminate cadmium coatings. This ultrahigh-strength corrosion resistant material may also be considered for other aerospace applications including rotary gear actuators, fasteners, and other structural components. On the collaboration with Carpenter, QuesTek President and Chief Executive Officer Charles Kuehmann remarked, "QuesTek is excited to join forces with Carpenter to bring our Ferrium S53 steel to market. Carpenter’s excellent reputation for quality and strong presence in the aerospace community makes this alliance a great match.” Carpenter has licensed relevant trademarks and will market the alloy under the Ferrium S53 alloy name. An AMS specification for this material is anticipated later this year. Carpenter produces and distributes specialty alloys, including stainless steels, titanium alloys and superalloys, and various engineered products. Information about Carpenter can be found on the Internet at www.cartech.com. For product information and material availability, contact Steve Heffner at 610-208-3331. QuesTek Innovations LLC, based in Evanston, IL, computationally designs alloys per customer specifications and licenses the use and/or production of these alloys to appropriate partners. Information about QuesTek can be found on the Internet at www.questek.com or contact Brian Tufts at 847-425-8241, btufts@questek.com