Marine Products Corporation Reports Stock Buyback |
ATLANTA, Oct 10, 2002 /PRNewsire-FirstCall via Comtex/ -- Marine Products Corporation (Amex: MPX) today reported that during its fiscal quarter ended September 30, 2002, it had purchased for cash on the open market, and retired, a total of 31,800 shares of its $0.10 par value common stock. The stock buyback program authorizes the repurchase of up to one million shares.
Marine Products Corporation (Amex: MPX) is the third-largest distributor of sterndrive powerboats in the U.S. The company designs, manufactures and distributes premium-branded Chaparral sterndrive pleasure boats and Robalo outboard offshore fishing boats, and continues to diversify its product line through product innovation and strategic acquisition. With premium brands and a solid capital structure, Marine Products Corporation is prepared to capitalize on opportunities to increase its market share and to generate superior financial performance to build long-term shareholder value. For more information on Marine Products Corporation visit www.marineproductscorp.com .
For information contact:
BEN M. PALMER
Chief Financial Officer
404.321.7910
JIM LANDERS
Corporate Finance
404.321.2162
irdept@marineproductscorp.com
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Marine Products Corporation's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.
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Oct 10, 2002 |
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