MAYFIELD VILLAGE, Ohio,
Aug. 12, 2015 /PRNewswire/
-- Preformed Line Products Company (the "Company")
(Nasdaq: PLPC) today announced that its Board of
Directors has approved a share repurchase program under which the
Company is authorized to repurchase up to 238,000 of the Company's
outstanding Common Shares from time to time on the open market,
including through a Rule 10b5-1 plan, or in privately negotiated
transactions.
The timing and amount of any shares repurchased, including the
terms of any Rule 10b5-1 plan, will be determined by the Company's
management based on market conditions, share price, corporate
considerations, regulatory requirements and other factors. The
share repurchase program does not obligate the Company to
repurchase any dollar amount or number of common shares and may be
suspended or discontinued at any time. Any repurchased shares will
be available for use in connection with the Company's stock
compensation plan and for other corporate purposes.
Founded in 1947, Preformed Line Products is an international
designer and manufacturer of products and systems employed in the
construction and maintenance of overhead and underground networks
for energy, communications and broadband network companies.
Preformed's world headquarters is in Mayfield Village, Ohio, and the Company
operates three domestic manufacturing centers located in
Rogers, Arkansas, Albuquerque, New Mexico, and Albemarle, North
Carolina. The Company serves its worldwide market through
international operations in Argentina, Australia, Brazil, Canada, China, England, France, Indonesia, Malaysia, Mexico, New
Zealand, Poland,
Russia, South Africa, Spain and Thailand.
This news release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934 regarding the
Company, including those statements regarding the Company's and
management's beliefs and expectations concerning the Company's
future performance or anticipated financial results, among others.
Except for historical information, the matters discussed in this
release are forward-looking statements that involve risks and
uncertainties which may cause results to differ materially from
those set forth in those statements. Among other things,
factors that could cause actual results to differ materially from
those expressed in such forward-looking statements include the
strength of the economy and demand for the Company's products,
increases in raw material prices, the Company's ability to
identify, complete and integrate acquisitions for profitable
growth, and other factors described under the headings "Risk
Factors" and "Forward-Looking Statements" in the Company's 2014
Annual Report on Form 10-K filed with the SEC on March 12, 2015 and subsequent filings with the
SEC. The Annual Report on Form 10-K and the Company's other
filings with the SEC can be found on the SEC's website at
http://www.sec.gov. The Company assumes no obligation to
update or supplement forward-looking statements that become untrue
because of subsequent events.
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SOURCE Preformed Line Products Company