Carpenter Technology Corp. entered into an agreement to buy 50 acres in Reading, PA, for $6 million to significantly expand its manufacturing facilities, according to a report in the Philadelphia Business Journal.
Carpenter, which makes and distributes conventional and powder metal specialty alloys, signed an agreement to buy land and four buildings on the former site of Dana Corp.’s Reading operations. The property is on West Robeson and Weiser streets and is adjacent to Carpenter’s existing East Shore property.
While most of the 40-acre property is developable land, four existing buildings totaling more than 355,000 square feet are on the site. Carpenter anticipates developing new facilities on the property that it expects will improve plant flow. Carpenter already has $125 million in projects under way in the Berks County community.