K-Tron Announces Share Repurchase Program
Share:
PITMAN, N.J., March 19 -- K-Tron International, Inc. (Nasdaq: KTII) today announced that its Board of Directors has authorized the Company to repurchase up to $10 million of its outstanding common stock. At March 18, 2009, the Company had outstanding 2,804,288 shares of its common stock.
Share repurchases, if any, will be funded with available cash, borrowings under the Company's credit facility or a combination of both. Repurchases under the program may be made through open market purchases at prevailing market prices or in privately negotiated transactions. The program will expire on March 6, 2010, unless extended. The timing, volume and nature of share repurchases are subject to market prices and conditions, applicable securities laws and other factors, and are at the discretion of the Company's management. Share repurchases may be commenced, suspended or discontinued at any time.
K-Tron International, Inc. and its subsidiaries design, produce, market and service material handling equipment and systems for a wide variety of industrial markets. The Company has manufacturing facilities in the United States, Switzerland and the People's Republic of China, and its equipment is sold throughout the world.
SOURCE K-Tron International, Inc.
CONTACT:
Ronald Remick,
Senior Vice President and Chief Financial Officer of K-Tron International, Inc.,
+1-856-256-3311,
rremick@ktron.com
Web Site: www.ktroninternational.com
CO: K-Tron International, Inc.
ST: New Jersey
IN: MAC MNG PAP UTI
SU: ACC
