Greg Gerber posted on November 28, 2008 08:39
MIDDLEBURY, Ind. -- Coachmen Industries, Inc. (COA:Coachmen Industries today announced that it would resume its common stock repurchase plan that had been previously authorized by its board of directors.
The company said it will fund the program with available cash and will repurchase shares in the open market or in private transactions, based on market conditions and other factors. The plan will be effective through March 31, 2009.
"These are historically challenging times for the global economy, but our housing business continues to perform well. After the completion of the anticipated sale of the RV business unit, we believe the significant difference between company's book value and market value makes the stock a very good investment. This latest action demonstrates the belief of management and the board in the continued success of the company and the long term value it will bring to investors," said CEO Richard M. Lavers.
SOURCE: Coachmen press release