Thomas & Betts Corporation Board of Directors Authorizes Stock Repurchase Program
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Additional Authorization Allows Repurchase of Up to Three Million
Shares
MEMPHIS, Tenn.--(Business Wire)--
Thomas & Betts Corporation (NYSE:TNB) today announced that the
company's board of directors has authorized the repurchase of up to
three million shares of Thomas & Betts common stock. This new
authorization expires in October 2010.
"We are pleased that the Board has decided to again provide
management with the flexibility to pursue the repurchase of the
company's stock as an option in returning value to our shareholders,"
said Dominic J. Pileggi, chairman and chief executive officer.
The authorization gives management discretion in determining
conditions under which the shares may be purchased from time to time.
Thomas & Betts Corporation (www.tnb.com) is a leading designer and
manufacturer of electrical components used in industrial, commercial,
communications and utility markets. The company is also a leading
producer of commercial heating and ventilation units and highly
engineered steel structures used, among other things, for utility
transmission. Headquartered in Memphis, Tenn., the company has
manufacturing, distribution and office facilities worldwide. In 2007,
Thomas & Betts reported net sales of $2.1 billion.
CAUTIONARY STATEMENT
This press release includes forward-looking statements that are
identified by terms such as "optimistic," "trend," "will," and
"believe." These statements discuss business strategies, economic
outlook and future performance. These forward-looking statements make
assumptions regarding the company's operations, business, economic and
political environment, including, without limitation, customer demand,
government regulation, terrorist acts and acts of war. The actual
results may be materially different from any future results expressed
or implied by such forward-looking statements. Please see the "Risk
Factors" section of the company's Form 10-K for the fiscal year ended
December 31, 2007 for further information related to these
uncertainties. The company undertakes no obligation to publicly
release any revisions to any forward-looking statements contained in
this press release to reflect events or circumstances occurring after
the date of this release or to reflect the occurrence of unanticipated
events.
Thomas & Betts Corporation
Tricia Bergeron, 901-252-8266
tricia.bergeron@tnb.com
Copyright Business Wire 2008
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