SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report - May 18, 2001
(Date of Earliest Event Reported)
Carpenter Technology Corporation
(Exact Name of Registrant as specified in its charter)
Delaware 1-5828 23-0458500
(State of Incorporation) (Commission File No.) (IRS Employer I.D. No.)
1047 North Park Road, Wyomissing, Pennsylvania, 19610-1339
(Address of principal executive offices)
Registrant's telephone number, including area code: (610) 208-2000
Item 5. Other Events.
Carpenter issued a news release on May 18, 2001, stating that it had reached a settlement agreement with the City of Bridgeport, Connecticut and the Bridgeport Port Authority in connection with the public taking of Carpenter's former steel mill property. Under the settlement, Carpenter will receive $9.25 million by June 30. As a result of the settlement agreement, Carpenter will incur a one-time, non-cash charge of $7.5 million before taxes ($.20 per diluted share) in the fourth quarter, ending June 30, 2001. The charge reflects the difference between the book value ($14.5 million) of the site and the settlement amount and includes litigation and other associated costs.
Item 7. Financial Statements and Exhibits.
(a) and (b) None.
(c) Exhibit:
Item 99. Press Release dated May 18, 2001.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: May 22, 2001 CARPENTER TECHNOLOGY
CORPORATION (Registrant)
By: /s/ John R. Welty
John R. Welty
Vice President,
General Counsel and Secretary
EXHIBIT INDEX
Sequential
Exhibit Description Page Number
Item 99 Press release dated May 18, 2001
