NEW YORK — Tool steel distributor SB Specialty Metals LLC has entered a deal to buy all of its gas-atomized powder metal tool and high-speed steels from Carpenter Powder Products (CPP) for the foreseeable future.

"This agreement will extend the strong strategic relationship between SB and CPP through 2030 and will provide accelerated growth opportunities for both companies in this market area," SB Specialty Metals president Peter Gordon said in a statement.

Dallas-based SB Specialty Metals is the largest tool steel distributor in the United States, with 11 warehouse locations. Bridgeville, Pa.-based CPP, a subsidiary of Carpenter Technology Corp., has facilities in the northeastern United States and in Sweden.