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  - April 25, 2003
             ------------------------------------
               (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.
         ------------

a. In a press release on April 25, 2003, Carpenter Technology Corporation
announced that Robert J. Torcolini, president, chief operating officer (COO) and
a director of Carpenter, will become chairman, president and chief executive
officer on July 1, 2003.

Dennis M. Draeger, Carpenter's current chairman and chief executive officer, has
decided to retire effective June 30, 2003.

The foregoing summary is qualified in its entirety by reference to the press
release attached hereto as Exhibit 99a, which is incorporated by reference
herein.

b. In a press release on April 25, 2003, Carpenter Technology Corporation
announced that, at its meeting on April 24, 2003, its Board of Directors
declared a quarterly cash dividend of $.0825 per share of common stock, payable
June 5, 2003, to shareholders of record on May 6, 2003

The foregoing summary is qualified in its entirety by reference to the press
release attached hereto as Exhibit 99b, which is incorporated by reference
herein.

Item 7.  Financial Statements and Exhibits.


     (a) and (b) None.

     (c) Exhibit:

    Exhibit 99a. Press Release dated April 25, 2003 - Chairman, President and
     CEO Exhibit 99b. Press Release dated April 25, 2003








                          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:  April 25, 2003           CARPENTER TECHNOLOGY CORPORATION
                                (Registrant)




                                By: /s/David A. Christiansen
                                   --------------------------
                                   David A. Christiansen
                                   Vice President, General
                                   Counsel and Secretary








                       EXHIBIT INDEX

Exhibit               Description

99a.           Press release dated April 25, 2003 - Chairman, President and CEO
99b.           Press release dated April 25, 2003 - Dividend