It is reported that the US’ Department of Defense has awarded a technology investment agreement to Latrobe Specialty Steel to reduce production lead times by increasing production capacity for specific vacuum melted or re melted alloys. These vacuum melted specialty steels become militarily essential parts like rotor shafts for helicopters, hot sections of jet engines or torsion bars on fighting vehicles.
Mr Hans Sack president & CEO of LSS commented "Every employee at Latrobe Specialty Steel understands the essential role our vacuum melted steels play in the defense of the United States and the wars in Iraq and Afghanistan. This investment by both the department of defense and Latrobe means that replacement parts made from LSS’s life critical vacuum melted alloys reach the troops when they are needed."
Latrobe Specialty Steel contended in open competitive bidding for this cost sharing project. To match the department of defense's USD 16,606,000 award, Latrobe will contribute approximately USD 53,454,000. Latrobe's new vacuum melting facility and its support resources will employ approximately 40 additional people in Westmoreland and Venango Counties of Pennsylvania.
