Carpenter Technology said that it has began the process to sell Latrobe Specialty Steel Distribution (LSSD) and its Mexican distribution business, Aceros Fortuna.
The sale will allow Carpenter to focus on its high-value specialty alloy manufacturing, titanium processing, and precision engineered businesses. Carpenter expects to reinvest the proceeds from the sale into their premium product business such as aerospace, energy, and other high-growth markets.
Carpenter acquired the 6 Latrobe Specialty Steel Distribution service centers as part of its acquisition of Latrobe Specialty Steel earlier this year.
Latrobe Specialty Steel Distribution holds the contract for the exclusive distribution of Crucible's CPM grades in North America. It is not clear who will hold this contact next.
LSSD also supplies many of the smaller tool steel service centers with their inventory. Can we expect that the new buyer of LSSD will continue to service these accounts?
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