Crucible Industries and Latrobe Specialty Steel Distribution Announce Partnership

Crucible Industries LLC is pleased to announce its partnership with Latrobe Specialty Steel Distribution for the sales and marketing of Crucible Particle Metallurgy (“CPM”). Supported by more than 30 years of investment in research and development, Crucible’s CPM is one of the world’s most advanced powder metal materials and a critical input for companies in the automotive, aerospace and tooling industries. CPM is the “gold standard” of powder metals, and customers value CPM for its high quality and performance.

Under the arrangement, Crucible Industries will manufacture the CPM grades at its Solvay, NY, steel mill and Latrobe Specialty Steel Distribution will sell the products through its eight locations in North America.

“Latrobe Distribution offers everything we wanted in a partner for our CPM grades of steel,” said James Beckman, President of Crucible Industries. “They have the infrastructure, the market knowledge, and the service reputation we were looking for.”

“CPM is the leading name in powder metallurgy, and we are looking forward to continuing the tradition that Crucible established with this great line of products,” said David Murray, Sr. Vice President of Latrobe Distribution. “We believe Crucible Industries and Latrobe Specialty Steel Distribution are a compelling partnership, and we look forward to serving the needs of our CPM customers.”

Crucible Industries LLC, located near Syracuse, NY, was recently purchased by JP Industries of Cleveland, OH, is the only manufacturer of CPM and also produces stainless and other specialty steels.

Latrobe Specialty Steel Distribution is a division of Latrobe Specialty Steel of Latrobe, PA, and is owned by The Watermill Group of Boston, MA, Hicks Equity Partners LLC of Dallas, TX and Sankaty Advisors of Boston, MA. For additional information contact James Beckman at Crucible Industries at james.beckman@crucible.com or David Murray of Latrobe Distribution at david.murray@latrobesteel.com.

Download full article

January 12, 2010