MarketWatch.com - MarketPulse
NEW YORK (MarketWatch) -- Carpenter Technology Corporation said Friday its board of directors has approved a new share repurchase program of up to $250 million of Carpenter's outstanding common shares. Chief Financial Officer Douglas Ralph said the new share buyback plan is a follow-on to the company's current $250 million repurchase plan. The news came the same morning as Carpenter announced its plans to sell its ceramics businesses to U.K.-based Morgan Crucible.