Preformed Line Products Company (NASDAQ:PLPC) Files An 8-K Other Events
Item 8.01.
On March 16, 2020, the Board of Directors (the “Board”) of Preformed Line Products Company, an Ohio corporation (the “Company”), authorized and approved a share repurchase program for up to an aggregate of 250,000 common shares of the Company with no expiration date (the “Repurchase Program”). This authorization replaces the repurchase plan approved by the Board on December 13, 2017, under which 76,834 common shares remained available for repurchase.
to the Repurchase Program, the Company intends to purchase shares, from time to time, by means of open market transactions, block purchases or privately negotiated transactions in accordance with applicable federal securities laws, including Rule 10b-18 of the Securities Exchange Act of 1934. Repurchases of the Company’s common shares will depend on many factors, including availability of common shares, general business and market conditions, market price, alternative investment opportunities, and the Company’s financial condition and performance. The Company is not obligated to repurchase shares under the Repurchase Program. The Repurchase Program may be discontinued, suspended or restarted at any time.
About Preformed Line Products Company (NASDAQ:PLPC)
Preformed Line Products Company (PLPC) is a designer and manufacturer of products and systems employed in the construction and maintenance of overhead and underground networks for the energy, telecommunication, cable operators and information industries. The Company’s products include Formed Wire and Related Hardware Products, Protective Closures, Plastic Products and Other Products. The Company operates through four segments: PLP-USA (including corporate), The Americas (includes operations in North and South America without PLP-USA), EMEA (Europe, Middle East and Africa) and Asia-Pacific. The Company’s PLP-USA segment consists of its United States operations manufacturing its traditional products primarily supporting its domestic energy, telecommunications and solar products. Its other three segments, The Americas, EMEA and Asia-Pacific, support its energy, telecommunications, data communication and solar products in each respective geographical region.