FTC Approves Final Order Settling Charges that Carpenter Technology Corporation's Acquisition of Latrobe Specialty Metals, Inc. was Anticompetitive in Aerospace Alloys Market

Following a public comment period, the Federal Trade Commission has approved a final order settling charges that Carpenter Technology Corporation's proposed $410 million acquisition of Latrobe Specialty Metals, Inc. would harm competition in the U.S. markets for two specialty metallic alloys used in the aerospace industry. The final FTC order requires Carpenter divest assets necessary for manufacturing the two alloys – MP159 and Aerospace MP35N – to another metals manufacturer, Eramet S.A.

The Commission vote approving the final order was 4-0-1, with Commissioner Maureen K. Ohlhausen not participating. (FTC File No. 111-0207, Docket No. C-4349; the staff contact is Scott Reiter, Bureau of Competition, 202-326-2886; see press release dated February 29, 2012.)

The FTC's Bureau of Competition works with the Bureau of Economics to investigate alleged anticompetitive business practices and, when appropriate, recommends that the Commission take law enforcement action. To inform the Bureau about particular business practices, call 202-326-3300, send an e-mail to antitrust@ftc.gov, or write to the Office of Policy and Coordination, Bureau of Competition, Federal Trade Commission, 601 New Jersey Ave., Room 7117, Washington, DC 20580. To learn more about the Bureau of Competition, read Competition Counts. Like the FTC on Facebook and follow us on Twitter.