ST. LOUIS – Huttig Building Products, Inc. (“Huttig”; OTC HBPI), a leading domestic distributor of millwork, building materials and wood products, today announced that it has completed a repurchase of 1.0 million shares of its common stock at $1.10 per share from an existing stockholder. The share repurchase was effected in a private transaction and the aggregate purchase price was funded with available funds.
Jon Vrabely, president and CEO, stated “Throughout the entire unprecedented downturn in the housing market over the past five years, we have focused on preserving the long-‐term value proposition of the company, managing the integrity of the balance sheet and protecting the interests of our shareholders. To that end, we have been successful in meeting our objectives without adding significant debt to the balance sheet or diluting our shareholders. We are extremely pleased that our financial performance and liquidity position have provided us the opportunity to deliver meaningful value to our shareholders through this transaction”.
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