Global-Tech Appliances (GAI) Announces $2M Stock Buy Back
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Global-Tech Appliances Inc. (NYSE: GAI) announced that its Board has authorized the repurchase of up to two million shares of the Company's common stock. Purchases would be made from time to time in the open market, subject to general market and other conditions. The Company estimates that purchases would be made over a period of approximately six months. Shares acquired would be available for later issue upon the exercise of stock options and for other corporate purposes.
Global-Tech Appliances Inc. is a holding company, owning subsidiaries that manufacture and market floor care products and small household appliances.
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