CGX Opts for Share Repurchase Program
HOUSTON—For now, it looks like the anticipated sale of Consolidated Graphics (CGX) will have to wait for another strategic review.
After kicking around options to enhance shareholder value, the CGX board concluded that the best current option is to stay the course with its current plan, as well as embark on a share repurchase program. The repurchase program calls for an investment of up to $68.3 million in issued and outstanding common shares.
CGX says its current strategic plan is focused on achieving industry-leading sales and profit growth through ongoing investment in new technology and equipment, as well as a disciplined acquisition program.