General Bearing Announces Reactivation of Stock Buyback Program

Resource from: CBCC Likes:2954

Jul 28,2006

General Bearing Corporation (OTC:GNRL.PK) announced today that its Board of Directors has authorized the re-activation of the Company’s stock repurchase program. The Board authorized the Company to invest $2.2 million to acquire shares of the Company’s stock in open market and private transactions. General Bearing Chief Executive Officer, David L. Gussack said, “The Board believes that the shares are undervalued and that this provides an attractive opportunity to increase shareholder value.” Mr. Gussack further stated “The Company has projected continuing strong growth in the future, subject to all of the risk factors which are described in the Company’s SEC filings prior to deregistration of its stock in 2005.” General Bearing manufactures and distributes a variety of bearings and bearing components under “The General” and the “Hyatt” trademarks. The Company supplies original equipment manufacturers in the automobile, truck/trailer, railcar, office equipment, machinery and appliance industries, as well as the industrial aftermarket.

()

【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.

8613818814498

Add to My Favorites

[Close the window]

Previous Lehigh Valley Plastics Consolidating Locations
Next NSK Develops the World Thinnest Microactuator Pivot Ball Bearing Assembly

BRIEF INTRODUCTION

Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.

Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.

China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.

Quik Links

Language

General Bearing Announces Reactivation of Stock Buyback Program

Our Partner

Friendly Link

原文