Remy International, Inc. Buyback
OLI recorded this information on 2/18/2015
Remy International, Inc.
Remy International, Inc. (NASDAQ:REMY) announced today that the Board of Directors has approved a share repurchase program, effective February 23, 2015, under which Remy may repurchase up to $100 million of its outstanding ordinary shares. Purchases may be made from time to time in the open market at prevailing prices or in privately negotiated transactions through February 28, 2018.
Remy International is involved in the design, manufacture, remanufacture, marketing and distribution of non-discretionary, rotating electrical components for light and commercial vehicles for original equipment manufacturers and the aftermarket. Co. sells its products primarily under the Delco Remy, Remy, World Wide Automotive and USA Industries brand names, as well as its customers' private label brand names. Co.'s principal products for both light and commercial vehicles include: new starters and alternators; remanufactured starters and alternators; hybrid electric motors; and multi-line products including steering gear, constant velocity axles, and brake calipers.
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Strong Buy (4.00 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data;
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