Thiokol Corp. has received approvals for a stock repurchase program, according to Edwin O. Garrison, president and chief executive officer.

The buyback of Thiokol shares was approved by the company's board of directors and approval for up to a 5 percent stock repurchase has been given by the Internal Revenue Service. The request for a ruling was made three months ago.Approval by Morton International also was received in keeping with the spin-off agreement between it and Thiokol.

Thiokol is a $1.2 billion Utah-based corporation that employs 11,500 people and builds solid propulsion systems, ordnance and composite products for the space and defense industries.

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