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OAK INDUSTRIES BOARD AUTHORIZES STOCK REPURCHASE PROGRAM

 OAK INDUSTRIES BOARD AUTHORIZES STOCK REPURCHASE PROGRAM
 WALTHAM, Mass., Dec. 6 /PRNewswire/ -- Oak Industries Inc. (NYSE: OAK) announced today that its board of directors at its meeting yesterday authorized management to repurchase, from time to time, subject to market and other conditions, up to 5 million shares of the company's common stock. Such purchases may be made on the open market or through privately negotiated transactions and would be funded with available company cash.
 William S. Antle III, chief executive officer and president, stated, "Our first priority is to use our available cash, which now totals approximately $35 million, for our acquisition program. However, as a result of our strong cash flow and balance sheet, we wanted the flexibility to purchase company stock if market conditions warrant it."
 Oak Industries Inc., headquartered in Waltham, Mass., is a 59-year-old manufacturer of components and controls. The company is pursuing a strategy for growth in the appliance, electronics and electrical industries through new-product introductions, ongoing productivity enhancements and strategic acquisitions.
 -0- 12/6/91
 /CONTACT: William C. Weaver, chief financial officer, or William S. Antle III, chief executive officer, both of Oak Industries, 617-890-0400/
 (OAK) CO: Oak Industries Inc. ST: Massachusetts IN: CPR SU:


DD-PB -- NE016 -- 0250 12/06/91 16:43 EST
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Publication:PR Newswire
Date:Dec 6, 1991
Words:210
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