ChemFirst Inc. Announces Stock Repurchase Authorization.Business Editors JACKSON, Miss.--(BUSINESS WIRE)--March 7, 2000 ChemFirst Inc. (NYSE NYSE See: New York Stock Exchange :CEM CEM contagious equine metritis. CEM selective medium chocolate agar made with Eugon agar and 5% horse blood; used to cultivate Taylorella equigenitalis. ) announces that the board of directors has authorized an additional $60 million for stock repurchases Stock repurchase A firm's repurchase of outstanding shares of its common stock. to follow the current $50 million repurchase program authorized in August 1998. This latest approval for expenditure brings total authorizations since the stock repurchase program was initiated in January 1997 to $170 million. The company has acquired 4.9 million shares at a cost of $110 million since beginning the program. Shares may be repurchased in the open market or in private transactions. ChemFirst Inc. companies produce chemicals for semiconductor, life science and polyurethane polyurethane Any of a class of very versatile polymers that are made into flexible and rigid foams, fibres, elastomers (elastic polymers), surface coatings, and adhesives. applications. Additional information about the company is available on ChemFirst's website located at http://www.chemfirst.com. |
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