Calgon Carbon won't pursue an MLP, expands stock buyback program

|About: Calgon Carbon Corporation (CCC)|By:, SA News Editor

Calgon Carbon (CCC) nixes the notion of creating an MLP, saying the concept is not accretive to shareholder value due to rules on qualifying income, the structural support needed, and the additional costs of creating and operating an MLP.

Instead, CCC will expand its stock buyback program, authorizing up to an additional $100M of stock repurchases.

CCC also plans an additional $10M in cost cuts, bringing to $40M its total annual cost improvements.