Carpenter Technology Corporation Relocating Corporate Headquarters
Carpenter anticipates that the new Philadelphia location will ultimately be home to approximately 100 positions, while nearly 2,300 Carpenter personnel will remain in Reading, PA. 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."
Shifting corporate headquarters to Philadelphia puts Carpenter where it needs to be to grow in today's specialty metals environment. It 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 material increased expenses.
Nearly 2,300 manufacturing and non-manufacturing jobs remain at the Reading campus, which is a crucial part of Carpenter's overall growth strategy.
With precise numbers and timing yet to be determined, Carpenter plans to establish a shared services facility in Reading with a number of positions moving near the Reading manufacturing facility from the current corporate location in Wyomissing.
For Reading and Pennsylvania:
Carpenter's ranking as a top Reading employer and its strong commitment to the Reading community remains unchanged.
The selection of Philadelphia as its new corporate headquarters signals Carpenter's recognition of this major metro area's attractive climate for business and talent, and Carpenter's belief in the dynamic role Pennsylvania plays in today's specialty manufacturing sector.
Carpenter will remain an active, positive force in Reading and is committed to building on its record of support for the community and local organizations.
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.