Resumes Share Repurchase ProgramKaty Industries, Inc. Resumes Share Repurchase Program
12/5/2005
MIDDLEBURY, Conn., Dec 05, 2005 /PRNewswire-FirstCall via COMTEX/ --
Katy Industries, Inc. (NYSE: KT) today announced that it has resumed its $5.0 million share repurchase plan, which the company previously suspended in May 2004. From the inception of the plan in April 2003 until the May 2004 suspension, Katy has purchased 494,800 shares of common stock on the open market for approximately $2.6 million.
"We believe that the repurchase of our shares is an appealing investment at current share prices and a sensible use of the company's resources," said Anthony T. Castor III, Katy Industries' President and Chief Executive Officer.