Cohesant Technologies Announces Share Buyback.INDIANAPOLIS--(BUSINESS WIRE)--Oct. 13, 1998--Cohesant Technologies Inc. (Nasdaq:COHT) today announced that it plans to purchase up to 400,000 shares of its common stock, or approximately 15% of its outstanding shares. Purchases may occur in the open market or in privately negotiated transactions. The price to be paid, timing of purchases and the aggregate number of shares to be purchased will be at the Company's discretion and subject to market conditions. "We believe that the current market price of the Company's common stock is attractive and that a stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. is an excellent investment for our stockholders," said Dwight D. Goodman, Cohesant's president and chief executive officer. "The share repurchase Share Repurchase A program by which a company buys back its own shares from the marketplace, reducing the number of outstanding shares. This is usually an indication that the company's management thinks the shares are undervalued. program is designed to offset the dilutive effect Dilutive effect Result of a transaction that decreases earnings per common share (EPS). of issuances that may occur upon exercise of outstanding stock options." Separately, Glas-Craft, Inc., a Cohesant subsidiary, announced the signing of a $1.8 million supply agreement with Burtin Urethane urethane (yoor´ithān´), n ethyl carbamate used as an anesthetic agent for laboratory animals, formerly used as a hypnotic in humans. Corp. of Santa Ana, California Santa Ana is the most populous city in Orange County, California and is the county seat. It lies approximately 10 miles inland from the Pacific Ocean, on the largely seasonal Santa Ana River. . Under the agreement, Burtin will acquire 200 Glas-Craft two-component spray finishing and coating application systems. Delivery of the systems has commenced and is expected to continue through 1999. Cohesant Technologies Inc., based in Indianapolis, Indiana “Indianapolis” redirects here. For other uses, see Indianapolis (disambiguation). Indianapolis (IPA: [ˌɪndiəˈnæpəlɪs]) is the capital city of the U.S. , designs, develops, and manufactures specialized spray finishing and coating application equipment and specialty coating products through its two subsidiaries: Glas-Craft, Inc., and Raven Lining Systems, Inc. Glas-Craft manufactures spray finishing and coating equipment that meets strict new clean-air standards. Raven Lining Systems, Inc., manufactures and sells AquataPoxy(R) and the Raven line of high-performance coating systems that are resistant to water and corrosive breakdown by most acids and solvents and can be used in drinking water drinking water supply of water available to animals for drinking supplied via nipples, in troughs, dams, ponds and larger natural water sources; an insufficient supply leads to dehydration; it can be the source of infection, e.g. leptospirosis, salmonellosis, or of poisoning, e.g. systems. Certain statements contained in this report that are not historical facts are forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statement. These risks and uncertainties include, but are not limited to, a slow-down in domestic and foreign markets for plural component dispensing systems and a reduction in growth of markets for the Company's epoxy coating systems. |
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