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(AMM) Carpenter looking to grow via acquisition

July 30, 2010 - 19:53 GMT Location: PITTSBURGH

KEYWORDS: William A. Wulfsohn , Carpenter Technology

William A. Wulfsohn took over as president and chief executive officer of Carpenter Technology Corp. on July 1, and in less than a month he has developed a clear vision for the future of the company-clear even though the outlook for some of its markets remains a bit cloudy.

Wulfsohn said that growth by acquisition remains a key piece of Carpenter's long-term strategy, one he expects to see gain strength in weeks and months to come.

"Certainly we have the financial flexibility to consider and move forward on strategic acquisitions that could help to broaden our offering to the marketplace," Wulfsohn said during a conference call. We'll be looking with a keen eye toward the future. To grow and grow in this area would be a great dimension to add to Carpenter."

That could mean either growth by acquisition or efforts to expand internally. "I think it's quite balanced, actually," Wulfsohn said of opportunities both inside and outside Carpenter. "We have a disciplined process for pursuing acquisitions. The one thing that maybe has changed is that, in general, we've...

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