SIFCO Industries, Inc. Stock Repurchase Program CLEVELAND--(BUSINESS WIRE)--Oct. 1, 2001--SIFCO Industries, Inc. (AMEX:SIF - news) today announced that its Board of Directors has decided to reinstate the share repurchase program that was established February 16, 2000, and was suspended January 30, 2001.
This program has so far purchased 70,700 of the 100,000 shares approved.
The Board believes that the recent market price of the stock does not reflect the true value of the Company. Accordingly, the repurchase program represents an attractive investment opportunity for the Company.
Cleveland-headquartered SIFCO serves the technological needs of the aerospace industry, worldwide, in the repair, coatings, forging and finishing, machining production and marketing of jet engine and airframe components.
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SIFCO Industries, Inc. is dedicated to meeting the technical needs of the aerospace industry in the production, repair, coatings, machining, and marketing of jet engine and other aerospace components. SIFCO serves the world's aerospace industry through a growing network of manufacturing service and distribution centers in the United States, Europe and the Far East.