CUDAHY, Wis., Dec. 1 /PRNewswire/ -- Ladish Co., Inc. (Nasdaq: LDSH)
(http://www.ladishco.com) reports today that the Board of Directors has
approved an additional increase to the stock buy-back program initially
adopted in the third quarter of 1998. The Board of Directors authorized the
purchase of up to 1,000,000 additional shares of Ladish Common Stock, bringing
the total authorization to 2,500,O00 shares.
Kerry L. Woody, President & CEO of Ladish, states that the Board of
Directors has elected to adopt this increase as a result of the Company having
already repurchased approximately 1,500,000 shares, which completed the first
two tranches of stock buy-back. According to Woody, "We remain committed to
improving and growing Ladish both internally and externally. We believe the
currently depressed valuation for aerospace companies, including Ladish, gives
us numerous opportunities to provide value to our shareholders, one of which
is this increase in our stock repurchase program."
Ladish Co., Inc. is a leading producer of highly engineered, technically
advanced components for the jet engine, aerospace and general industrial
markets. Ladish is headquartered in Cudahy, Wisconsin with operations in
Wisconsin and Connecticut. Ladish common stock trades on Nasdaq under the
symbol LDSH
This release includes forward-looking statements that are made pursuant to
the safe harbor provisions of the Securities Litigation Reform Act of 1995.
Such forward-looking statements are subject to certain risks and uncertainties
that could cause actual results to differ materially from those projected in
them. These risks and uncertainties include, but are not limited to,
anticipated slowdowns in the company's major markets, the impact of
competition, the effectiveness of operational changes expected to increase
efficiency and productivity, worldwide economic and political conditions and
the effect of foreign currency fluctuations.
SOURCE Ladish Co., Inc.
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Related links:
http://www.ladishco.com
Company News On-Call:
http://www.prnewswire.com/comp/131444.html or fax,
800-758-5804, ext. 131444
CONTACT:
Wayne E. Larsen of Ladish Co., Inc.,
414-747-2935, or fax, 414-747-2890; or William J. Libby of Libby
Associates, 203-431-8480, or fax, 203-431-6132, for Ladish Co.
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