Carpenter Technology Corp., Wyomissing, Pa., plans to relocate its corporate headquarters to Philadelphia, to provides better access to transportation, customer markets, world-class universities, and increased visibility with broader talent pools. The move positions Carpenter’s head office in a major metropolitan market without incurring any significant increased expenses.
The move supports Carpenter’s strategic plan to leverage its core technical strength in engineered materials and process capabilities to solve customers’ current and anticipated challenges. Carpenter is shifting its focus to apply product and process capabilities that drive total value in a more customer-centric and market-focused manner.
Carpenter anticipates that the new Philadelphia location will ultimately be home to approximately 100 positions, while nearly 2300 Carpenter personnel will remain in Reading. The company noted that no planned job reductions are part of the relocation, and the relocation is not expected to have any material increase in overall expenses.
“Carpenter is positioning itself for continued growth,” said Tony R. Thene, Carpenter’s President and Chief Executive Officer. “As we have expanded our manufacturing footprint and sales presence over the past decade, it has become more important to raise our visibility, broaden our talent pool, and improve access to our customers and partners. The Reading manufacturing location remains crucial to the current operating plan and the stated strategy going forward. We’re proud of our 125 plus years in Reading, and we remain committed to Reading and to the state of Pennsylvania, where Carpenter today employs more than 3,300 personnel.”
Carpenter is in the process of reviewing office locations in Philadelphia appropriate to its needs and growth objectives, with the goal of completing the move in late 2016.
