Carpenter Technology Corp. is planning to relocate its
corporate headquarters to Philadelphia from Wyomissing, Pa.
The company, which makes titanium alloys and powder
metals, expects to have 100 people working from its new Philadelphia corporate
offices. The company has not selected a building in Center City but has
launched a search.
“This new headquarters location will allow the company to
deepen its customer relationships and play a more integral role in the
development of its customers’ products,” the company said in a release. It will
also allow the company to have better access to transportation, local
universities from which it can recruit and make it more visible.
The company has 2,300 people working from the Reading,
Pa., area and those employees will continue to operate from its manufacturing
facilities there. There are no planned job reductions, the company said.
“Carpenter is positioning itself for continued growth,”
said Tony R. Thene, Carpenter’s president and CEO, in a statement. “As we have
expanded our manufacturing footprint and sales presence over the past decade,
it has become more important to raise our visibility, broaden our talent pool,
and improve access to our customers and partners. The Reading manufacturing
location remains crucial to the current operating plan and the stated strategy
going forward.”
Source: Philadelphia
Business Journal
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