Carpenter Special Products Corp. acquired, renamed

November 30, 2005

WHI Capital Partners, a Chicago-based private equity firm, has announced its acquisition of Carpenter Special Products Corp., a manufacturer of precision engineered metal components and assemblies. As a stand-alone company, the company will be renamed Veridiam Inc. and will continue to focus on its core nuclear power generation, aerospace, and medical device businesses. Veridiam employs approximately 120 people at its 170,000 sq. ft. facility just outside of San Diego.

Carpenter Special Products Corp. has been in business for more than five decades. Some of its current products include tubular component assemblies, cold rolled and cold drawn alloy products, nuclear reactor tubing, and fuel channel assemblies.

In connection with the sale, an agreement was executed whereby Veridiam will continue its strong supply relationship with its former parent, Carpenter Technology Corp. to ensure access to certain of Carpenter Technology's proprietary alloys. In addition, Veridiam and Carpenter Technology have formed a joint development effort in order to continue leveraging each company's strengths and advantages in the marketplace.

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