News - Share repurchase program, up to 5%, JC: "excellent long-term value".
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Friday September 4, 9:00 am Eastern Time
Company Press Release
Acx Technologies, Inc. Announces Share Repurchase Program
GOLDEN, Colo., Sept. 4 /PRNewswire/ -- ACX Technologies, Inc. (NYSE: ACX) today announced that its Board of Directors authorized a program to repurchase up to 5% of its common stock in open market transactions. The stock may be purchased from time to time as the Company's financial condition and market conditions permit.
In announcing the program, Joe Coors, Jr., President and Chief Executive Officer of ACX stated, "We believe that ACX stock represents an excellent long-term value and will be a beneficial use of the Company's cash. The Board's decision to approve this program demonstrates its confidence in our core businesses and commitment to building shareholder value."
The repurchased shares may be used to meet periodic stock issuance requirements under the Company's employee stock option and employee stock purchase programs, or other corporate purposes. ACX has approximately 28.6 million shares outstanding.
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This release contains "forward looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on current Company expectations and are subject to risks and uncertainties, which may cause actual results to be materially different from those that may be implied by any forward-looking statements contained in this press release. Specifically, 1) the number of shares repurchased is dependent on the Company's financial condition, cash flow and general market conditions; and 2) the investment value of ACX stock is dependent on numerous factors, including the Company's earnings and cash flows, and general economic and market conditions.
SOURCE: ACX Technologies, Inc.
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