Lawson Products, Inc., a distributor of products and services to the MRO marketplace, today announced that its Board of Directors has authorized a stock repurchase program of up to $7,500,000 of the Company's outstanding common stock, par value $1.00 per share. The stock repurchase program is expected to be completed over the next 24 to 36 months.
The shares may be repurchased from time to time in open market transactions, in privately negotiated transactions or by other methods in accordance with federal securities laws. The actual timing, number and value of shares repurchased under the program will be determined by management in its discretion and will depend on a number of factors, including the market price of Lawson's stock, general market and economic conditions and applicable legal requirements. The stock repurchase program does not obligate Lawson to purchase any particular amount of common stock and may be suspended or discontinued at any time.
