Carpenter Technology Corporation announced plans to invest $354.25 million in an expansion project at its plant in Limestone County, Alabama. This substantial investment is aimed at increasing the company's operational capacity and supporting future growth.
The expansion project is projected to create 62 new jobs over a three-year period. This follows the company's initial investment of $500 million in 2012 at the same 231-acre site, which brought over 200 jobs to the area.
This capital expenditure underscores Carpenter Technology's commitment to enhancing its manufacturing capabilities and meeting anticipated demand for its specialized materials. The investment is expected to strengthen the company's long-term competitive position.
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