American Vanguard Corp. (NYSE:AVD) announced its intention to repurchase up to $20 million worth of its common stock in the open market, depending upon market conditions over the short- to mid-term. Eric Wintemute, Chairman and CEO of American Vanguard, stated, “This share repurchase initiative reflects the confidence of both our board and management in the company’s enduring value at a time when our entire sector has been under pressure in the stock market. With ample borrowing capacity and cash flow to meet working capital needs and potential acquisition projects, we believe it is also important to demonstrate support of our equity.”
About American Vanguard
American Vanguard Corporation is a diversified specialty and agricultural products company that develops and markets products for crop protection and management, turf and ornamentals management and public and animal health. American Vanguard is included on the Russell 2000® and Russell 3000® Indexes and the S&P SmallCap 600® Index. To learn more about American Vanguard, please reference the Company’s website at www.American-Vanguard.com.
The Company, from time to time, may discuss forward-looking information. Except for the historical information contained in this release, all forward-looking statements are estimates by the Company’s management and are subject to various risks and uncertainties that may cause results to differ from management’s current expectations. Such factors include weather conditions, changes in regulatory policy and other risks as detailed from time-to-time in the Company’s SEC reports and filings. All forward-looking statements, if any, in this release represent the Company’s judgment as of the date of this release.