FRIEDMAN INDUSTRIES, INCORPORATED ANNOUNCES SHARE REPURCHASE AND AUTHORIZATION OF ADDITIONAL SHARE REPURCHASE PROGRAM
FRIEDMAN INDUSTRIES, INCORPORATED ANNOUNCES SHARE REPURCHASE AND AUTHORIZATION OF ADDITIONAL SHARE REPURCHASE PROGRAM
LONGVIEW, Texas, Dec. 18, 2023 (GLOBE NEWSWIRE) -- On December 13, 2023, Friedman Industries, Incorporated (the "Company") repurchased 400,041 shares of the Company's common stock from Metal One Corporation for an aggregate repurchase price of approximately $5.1 million. After the repurchase, the Company had 6,971,824 shares of common stock outstanding.
德克薩斯州朗維尤，2023年12月18日（GLOBE NEWSWIRE）——2023年12月13日，弗裏德曼工業公司（以下簡稱 “公司”）從美達王公司回購了400,041股公司普通股，總回購價約爲510萬美元。回購後，該公司有6,971,824股已發行普通股。
In addition, the Board of Directors authorized a share repurchase program on December 13, 2023 under which the Company may repurchase up to 1,045,774 shares of the Company's outstanding common stock through December 13, 2026, which equates to 15% of the Company's outstanding shares of common stock after the repurchase of shares from Metal One.
此外，董事會於2023年12月13日批准了一項股票回購計劃，根據該計劃，公司可以在2026年12月13日之前回購多達1,045,774股公司已發行普通股，相當於從美達王回購股票後公司已發行普通股的15％。
Repurchases under the program may be made from time to time at the Company's discretion and may be made in open market transactions, through block trades, in privately negotiated transactions and pursuant to any trading plan that may be adopted by the Company's management in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, or otherwise. The timing and actual number of shares repurchased pursuant to the program will depend on a variety of factors including price, corporate and regulatory requirements, market conditions and other corporate liquidity requirements and priorities. The repurchase program does not obligate the Company to acquire a specific dollar amount or number of shares and may be modified, suspended or discontinued at any time.
該計劃下的回購可以由公司自行決定不時進行，可以通過公開市場交易、大宗交易、私下談判交易以及公司管理層根據經修訂的1934年《證券交易法》第10b5-1條或其他規定可能通過的任何交易計劃進行。根據該計劃回購股票的時間和實際數量將取決於多種因素，包括價格、公司和監管要求、市場狀況以及其他企業流動性要求和優先事項。回購計劃不要求公司收購特定金額或數量的股票，可以隨時修改、暫停或終止。
Michael Taylor, Chairman of the Board and President and CEO of the Company, remarked, "The Board's approval of this program and the repurchase of Metal One's shares reflects our confidence in the Company's future. Repurchasing stock is one means of underscoring our commitment to enhancing stockholder value. We are optimistic about the future value creation potential of our business. We have achieved significant growth over the last two years. We have completed a series of strategic investments that have transformed our business by expanding our steel processing capabilities, broadening our geographical reach and improving our earnings. Building on this positive momentum, we are looking to deliver our most profitable year for a third year in a row and have our sights set on capturing even greater earnings potential on our existing fixed assets as we execute our strategy."
公司董事會主席兼總裁兼首席執行官邁克爾·泰勒表示：“董事會批准該計劃並回購美達王的股票反映了我們對公司未來的信心。回購股票是強調我們對提高股東價值的承諾的一種手段。我們對我們業務未來的價值創造潛力持樂觀態度。在過去的兩年中，我們取得了顯著的增長。我們已經完成了一系列戰略投資，通過擴大我們的鋼鐵加工能力、擴大我們的地域覆蓋面和提高我們的收益，改變了我們的業務。在這一積極勢頭的基礎上，我們希望連續第三年實現利潤最高的一年，並着眼於在執行戰略時從現有固定資產中挖掘更大的盈利潛力。”
ABOUT FRIEDMAN INDUSTRIES
關於弗裏德曼工業公司
Friedman Industries, Incorporated ("Company"), headquartered in Longview, Texas, is a manufacturer and processor of steel products with operating plants in Hickman, Arkansas; Decatur, Alabama; East Chicago, Indiana; Granite City, Illinois; Sinton, Texas and Lone Star, Texas. The Company has two reportable segments: flat-roll products and tubular products. The flat-roll product segment consists of the operations in Hickman, Decatur, East Chicago, Granite City and Sinton where the Company processes hot-rolled steel coils. The Hickman, East Chicago and Granite City facilities operate temper mills and corrective leveling cut-to length lines. The Sinton and Decatur facilities operate stretcher leveler cut-to-length lines. The Sinton facility is a newly constructed facility with operations commencing in October 2022. The East Chicago and Granite City facilities were acquired from Plateplus, Inc. on April 30, 2022. The tubular product segment consists of the operations in Lone Star where the Company manufactures electric resistance welded pipe and distributes pipe through its Texas Tubular Products division.
弗裏德曼工業公司（“公司”）總部位於德克薩斯州朗維尤市，是一家鋼鐵產品製造商和加工商，在阿肯色州希克曼、阿拉巴馬州迪凱特、印第安納州東芝加哥、伊利諾伊州花崗岩城、德克薩斯州辛頓和德克薩斯州孤星設有運營工廠。該公司有兩個應申報的細分市場：平卷產品和管狀產品。平軋產品部門包括希克曼、迪凱特、東芝加哥、花崗岩城和辛頓的業務，該公司在那裏加工熱軋鋼卷。Hickman、East Chicago 和 Granite City 的設施運營着回火機和校正調平切長生產線。Sinton 和 Decatur 的工廠運營擔架矯平機定長生產線。辛頓工廠是一座新建的工廠，將於2022年10月開始運營。東芝加哥和花崗岩城的設施於2022年4月30日從Plateplus, Inc.手中收購。管狀產品部門包括Lone Star的業務，該公司在那裏生產電阻焊管，並通過其德克薩斯管材產品部門分銷管道。
For further information, you may contact Alex LaRue, Chief Financial Officer – Secretary and Treasurer, at (903)758-3431.
欲了解更多信息，您可以致電 (903) 758-3431 聯繫首席財務官兼秘書兼財務主管亞歷克斯·拉魯。
譯文內容由第三人軟體翻譯。