Congoleum announces note repurchase plan.MERCERVILLE, N.J.--(BUSINESS WIRE)--Aug. 12, 1996--Congoleum Corp. (NYSE NYSE See: New York Stock Exchange :CGM (1) (Computer Graphics Metafile) An ISO/IEC standard format for 2D graphics images introduced in 1987. Primarily a vector graphics format for technical illustrations and geophysical visualizations, CGM also supports raster graphics and text. ) announced Monday that its board of directors has authorized a program to repurchase up to $10 million of its outstanding 9% Senior Notes due 2001 from time to time, either in the open market or in privately negotiated transactions, depending on market conditions and other factors. Congoleum currently has $90 million in 9% Senior Notes outstanding. This program is in addition to a previously authorized program to repurchase up to $5 million of its Class A Common Stock. Congoleum Corp. is North America's second largest manufacturer of resilient vinyl flooring, serving both commercial and residential markets with products in a wide variety of designs and colors. The company's products are used primarily by the remodeling remodeling /re·mod·el·ing/ (re-mod´el-ing) reorganization or renovation of an old structure. bone remodeling , replacement, commercial, manufactured home and new residential markets. The Congoleum brand name has been associated with the flooring industry since 1924. Congoleum is a 44% owned subsidiary of American Biltrite Inc. (AMEX AMEX See: American Stock Exchange :ABL). CONTACT: Congoleum Corp., Mercerville Howard N. Feist feist also fice n. Chiefly Southern U.S. A small mongrel dog. [Variant of obsolete fist, short for fisting dog, from Middle English fisting, , Sr. VP - Finance, 609/584-3586 or Dewe Rogerson Inc. Debra Wasser or Daniel Gray, 212/688-6840 |
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