NEW YORK Carpenter Technology Corp.
will invest $13 million in another facility in Limestone
County, Ala., to support the construction of its $500-million
premium alloy plant there.
"They bought a facility that
will act as the staging area for equipment thats going to
come in for the manufacturing plant," Tom Hill, president of
the Limestone County Economic Development Association, told
AMM, adding that the new facility was "adjacent" to
the site chosen for the premium alloy plant.
The facility, which measures
about 550,000 square feet, once housed a parts plant for
General Motors Co., according to Hill. "That building has got
room to grow for them," he said.
Carpenter will get $762,000 in
sales, use and ad valorem tax breaks for the
construction of the staging facility, but will pay $498,000 in
sales, use and ad valorem tax for education in return,
according to Hill.
A Carpenter spokesman confirmed
Carpenters premium products facility will produce about
10,000 tons of premium alloys for the aerospace and energy
markets in its first year of operation before ramping up to its
full capacity of 27,000 tons over the next four years
(AMM, May 1).