READING, Pa.--(BUSINESS WIRE)--Sep. 21, 2009--
Carpenter Technology Corporation (NYSE:CRS) and Manhattan Scientifics
Inc. (OTC BB: MHTX) announced today a joint technology agreement
involving a new class of high strength metals with broad applications in
medical, aerospace, transportation, energy, defense and consumer
Manhattan Scientifics holds the exclusive U.S. license for a family of
patents to produce super-strong metals developed at the Los Alamos
National Laboratory and in Russia. Carpenter, a leading steel and
specialty alloys manufacturer, will develop, manufacture and market the
new generation of advanced metals.
“Carpenter continues to forge ahead as the leading developer of
stainless steels and specialty alloys,” said Anne L. Stevens,
Carpenter’s chairman and chief executive officer. “Our relationship with
Manhattan Scientifics will ultimately give us new, cutting edge
manufacturing techniques that we can apply to many of our alloys to
service an increasing global need for high strength materials”
Manhattan Scientifics’ CEO Manny Tsoupanarias said, “Carpenter
Technology Corporation is exactly the kind of industrial manufacturing
partner that can bring our new class of metals to the broad market. The
initial technology transfer payments along with eventual royalties from
Carpenter will provide Manhattan Scientifics quick and sustained
revenue, positive cash flow and profitability beginning this year. This
is a major break-through for our 8,600 shareholders.”
Carpenter Technology Corporation (NYSE:CRS), based in Wyomissing, PA,
produces and distributes specialty alloys, including stainless steels,
titanium alloys and superalloys, and various engineered products.
Information about Carpenter Technology can be found on the Internet at www.cartech.com.
About Manhattan Scientifics Inc.:
Manhattan Scientifics’ business model capitalizes on inventions and
technology from which profits may be earned primarily through licensing.
Operations include identifying, developing, patenting, supporting and
marketing technical innovations by harvesting top technology talent to
bring game-changing technology to the market. Manhattan’s science team
includes technology leaders like Dr. Martin Cooper, inventor of the
cellular telephone, Dr. Arthur Kaufman, founder of H-Power, Dr. Terry
Lowe, nano-science pioneer, and Donald Sandstrom, a 42-year veteran of
the Los Alamos National Laboratory, and a Materials Science expert and
“father” of Manhattan Scientifics.
Except for historical information, all other information in this news
release consists of forward-looking statements within the meaning of the
Private Securities Litigation Act of 1995. These forward-looking
statements are subject to risks and uncertainties that could cause
actual results to differ from those projected, anticipated or implied.
The most significant of these uncertainties are described in Carpenter's
filings with the Securities and Exchange Commission including its annual
report on Form 10-K for the year ended June 30, 2009.
Source: Carpenter Technology Corporation
Carpenter Technology Corporation
Investor and Media
David A. Christiansen, 610-208-3065