BILLERICA, Mass.--(BUSINESS WIRE)--Nov. 19, 2018--
Entegris, Inc. (NasdaqGS: ENTG) (the “Company”), a leader in specialty
chemicals and advanced materials solutions for the microelectronics
industry, today announced that its Board of Directors has authorized the
Company to repurchase an additional $250 million of its common stock. As
of Friday, November 16, 2018, the Company has repurchased $60.2 million
of its common stock during the fourth quarter and $15.2 million remained
available in the Company's prior share repurchase authorization.
“We believe the stock buyback plan is a good use of cash given our
long-term growth prospects,” said Bertrand Loy, president and chief
executive officer. “The additional opportunistic buyback program is
consistent with our stated capital allocation strategy which includes
capital investments to support future growth, strategic M&A, share
repurchases and a quarterly dividend.”
Repurchases of the Company's common stock will be made from time to
time, subject to market conditions. These shares may be purchased in the
open market or through privately negotiated transactions. The Company
has no obligation to repurchase shares under the authorization, and the
timing, actual number and value of shares which are repurchased will
depend on a number of factors, including the price of the Company's
common stock, general business and market conditions, and alternative
investment opportunities. The Company may suspend or discontinue the
repurchase program at any time. This current repurchase program expires
in February 2020.
ABOUT ENTEGRIS
Entegris is a leading chemicals and advanced specialty materials
solutions provider for the microelectronics industry and other high-tech
industries. Entegris is ISO 9001 certified and has manufacturing,
customer service and/or research facilities in the United States, China,
France, Germany, Israel, Japan, Malaysia, Singapore, South Korea and
Taiwan. Additional information can be found at www.entegris.com.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. The
words “believe,” “expect,” “anticipate,” “intends,” “estimate,”
“forecast,” “project,” “should,” “may,” “will,” “would” or the negative
thereof and similar expressions are intended to identify such
forward-looking statements. These forward-looking statements include
statements related to the Company’s plans and expectations with regard
to the share repurchase program and the benefits we may derive from the
program; the Company's capital allocation strategy, which may be
modified at any time for any reason, including share repurchases,
dividends, debt repayments and potential acquisitions; and other
matters. These statements involve risks and uncertainties, and actual
results may differ. These risks and uncertainties include, but are not
limited to, weakening of global and/or regional economic conditions,
generally or specifically in the micro-electronics industry, which could
decrease the demand for our products and solutions; our ability to meet
rapid demand shifts; our ability to continue technological innovation
and introduce new products to meet our customers' rapidly changing
requirements; our concentrated customer base; our ability to identify,
effect and integrate acquisitions, joint ventures or other transactions;
our ability to protect and enforce intellectual property rights;
operational, political and legal risks of our international operations;
our dependence on sole source and limited source suppliers; the
increasing complexity of certain manufacturing processes; raw material
shortages and price increases; changes in government regulations of the
countries in which we operate; fluctuation of currency exchange rates;
fluctuations in the market price of Entegris’ stock; the level of, and
obligations associated with, our indebtedness; and other risk factors
and additional information described in our filings with the Securities
and Exchange Commission, including under the heading “Risks Factors” in
Item 1A of our Annual Report on Form 10-K for the fiscal year ended
December 31, 2017, filed on February 15, 2018, and in our other periodic
filings. The Company assumes no obligation to update any forward-looking
statements or information, which speak as of their respective dates.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181119005893/en/
Source: Entegris, Inc.
Bill Seymour, +1 978-436-6500
VP of Investor Relations
irelations@entegris.com