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                                                                 Exhibit No. 5.1




October 12, 2001


Carpenter Technology Corporation
1047 N. Park Road
Wyomissing, PA  19610

Re:   Registration Statement on Form S-4

Ladies and Gentlemen:

We have acted as counsel to Carpenter Technology Corporation, a Delaware
corporation (the "Company"), in connection with the preparation and filing by
the Company of a Registration Statement on Form S-4 (the "Registration
Statement"), with the Securities and Exchange Commission for the purpose of
registering the issuance of up to an aggregate principal amount of $100,000,000
of the Company's 7 5/8% Notes Due 2011 (the "Exchange Notes") under the
Securities Act of 1933, as amended (the "Securities Act"). The Exchange Notes
are to be issued in exchange for an equal aggregate principal amount of the
Company's outstanding 7 5/8% Notes Due 2011 (the "Existing Notes") pursuant to
the Exchange and Registration Rights Agreement among the Company, J. P. Morgan
Securities, Inc. and Credit Suisse First Boston Corporation, which is filed as
Exhibit 4.9 to the Registration Statement. The Exchange Notes are to be issued
pursuant to the terms of the Indenture by and among the Company and U. S. Bank
Trust National Association (formerly known as First Trust of New York National
Association) (the "Trustee"), which is incorporated by reference as Exhibit 4.5
to the Registration Statement.

We have participated in the preparation of the Registration Statement and have
reviewed the Indenture, and we have examined such corporate records and
documents, statements of officers of the Company and matters of law as we have
considered appropriate to enable us to render this opinion.

Based upon and subject to the foregoing, we are of the opinion that the Exchange
Notes have been duly authorized by the Company and, when (a) the Registration
Statement has been declared effective, (b) the Exchange Notes have been duly
executed by the Company and (c) the Exchange Notes have been duly authenticated
by the Trustee in accordance with the terms of the Indenture and issued and
delivered in exchange for the Existing Notes in accordance with the terms set
forth in the prospectus which is included in the Registration Statement, will
constitute valid and legally binding obligations of the Company, as issuer,
enforceable against the Company in accordance with their terms, subject to
applicable bankruptcy, insolvency, fraudulent conveyance, moratorium,
reorganization and other similar laws affecting creditors' rights generally or
debtors' obligations generally, general



principles of equity (whether considered in a proceeding in equity or at law)
and an implied covenant of good faith and fair dealing.

We hereby consent to the filing of this opinion as an exhibit to the
Registration Statement and to the use of our name in the prospectus contained
therein, under the caption "Legal Matters."

Very truly yours,

/s/ Dechert