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Calgon Carbon Announces Share Buyback of as Much as $100 Million

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Nov. 19 (Bloomberg) -- Calgon Carbon Corp., a water-purification and ultraviolet technology solutions provider for municipalities and industries, announced a share buyback plan for as much as $100 million of stock.

Board approval of the repurchase program demonstrates its support “as well as its confidence in the company’s opportunities for long-term growth from emerging markets such as disinfection byproducts, mercury removal from flue gas and ballast water treatment,” Calgon Carbon Chief Executive Officer Randy Dearth said in a statement.

The program represents about 14 percent of the Pittburgh-based company’s market value. The shares rose 3 percent on the news, trimming losses this year to 22 percent.

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To contact the reporter on this story: Randall Hackley in London at rhackley@bloomberg.net

To contact the editor responsible for this story: Randall Hackley at rhackley@bloomberg.net

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