SPRINGFIELD, Mo., March 18, 2016 (GLOBE NEWSWIRE) — Paul Mueller Company (OTC:MUEL), a worldwide provider of processing solutions for the dairy farm, beverage, pharmaceutical, chemical, food and dairy industries, today announced its plan to return up to $3 million to shareholders through a common stock repurchase. The Board of Directors approved the repurchase as part of the Company’s commitment to return excess cash to its shareholders.
The stock repurchases may be made from time to time in the open market, in compliance with a 10b5-1 share repurchase plan adopted by the Company, or in privately negotiated transactions in compliance with applicable state and federal securities laws. The timing and amounts of any repurchases will be based on market conditions and other factors including price, regulatory requirements, and capital availability. The program does not require the repurchase of any minimum number of shares and may be suspended, modified, or discontinued at any time, without prior notice.
This press release contains forward-looking statements that provide current expectations of future events based on certain assumptions. All statements regarding future performance growth, conditions, or developments are forward-looking statements. Actual future results may differ materially from those described in the forward-looking statements due to a variety of factors, including, but not limited to, the factors described in the Safe Harbor For Forward-Looking Statements section of the Company’s 2015 Annual Report, which is available at paulmueller.com. The Company expressly disclaims any obligation or undertaking to update these forward-looking statements to reflect any future events or circumstances.
CONTACT: Press Contact: Jay Holden | Paul Mueller Company | Springfield, MO 65802 | (417) 575-9422 jholden@paulmueller.com | http://paulmueller.com
Source: Manufacturing