Carpenter Technology Corp. and Latrobe Specialty Metals, Inc.

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In the Matter of Carpenter Technology Corporation and Latrobe Specialty Metals, Inc.
FTC Matter/File Number:

1110207

Docket Number:

C-4349

Enforcement Type:

Part 2 Consents

Case Summary

The FTC required specialty metals manufacturer Carpenter Technology Corporation to sell assets involved in producing two metal alloys used in the aerospace industry, under a settlement resolving charges that Carpenter's proposed $410 million acquisition of Latrobe Specialty Metals, Inc. would harm competition in the U.S. markets for these alloys.The FTC's complaint alleges that the deal – a merger to monopoly – likely would lead to higher prices for consumers of the two alloys.  The order requires Carpenter to divest assets necessary for manufacturing the two alloys – MP159 and Aerospace MP35N – to another metals manufacturer, Eramet S.A.