Released on January 29, 2008

Morgan Crucible, Windsor, Berkshire, U.K., has acquired two technical ceramics businesses, Certech and Carpenter Advanced Ceramics for $147 million.

The businesses, which produce ceramics used in the investment casting industry among others, were purchased from Carpenter Technology Corp., Wyomissing, Pa., for a cash consideration on a debt free basis.

Certech is a global manufacturer of a broad range of injection-molded, consumable ceramic components used during the investment casting of turbine blades and vanes for aerospace engines, industrial gas turbines and some high-end industrial castings. The company also manufactures other porous ceramics and various metalcasting supplies and has seven plants in the U.S., U.K. and Mexico, totaling approximately 750 employees.

Carpenter Advanced Ceramics is a manufacturer of engineered ceramics products similar to those produced by Morgan Crucible subsidiary Morgan Technical Ceramics. It sells alumina and zirconia structural ceramic components for a variety of applications and industries. It operates two plants, one in the U.S. and one in Australia, and has approximately 150 employees.

According to a company press release, both acquisitions are aligned with Morgan Crucible’s existing core ceramic technology and with its strategic priorities.

“This is an exciting addition to our Technical Ceramics business,” said Andrew Hosty, CEO of the division. “It supports our goal of delivering mid-teen margins and increases our presence in the growing aerospace sector.”