HOUSTON, Oct. 22 /PRNewswire-FirstCall/ -- NL Industries, Inc. (NYSE: NL) today announced that its Board of Directors has authorized the repurchase of up to an additional 1.5 million shares of its common stock in open market transactions, including block purchases, or in privately negotiated transactions. The shares to be repurchased represent approximately three percent (3%) of the Company's 47.9 million shares outstanding. The stock may be purchased from time to time as the Company's financial condition and market conditions permit.
The share repurchase program does not include specific price targets or timetables. Depending on market conditions, applicable legal requirements, available cash and other factors, the program may be suspended at any time and could be terminated prior to completion. NL will use its cash on hand to acquire the shares. Repurchased shares will be added to NL's treasury stock, and could be used for employee benefit plans, future acquisitions, or other corporate purposes.
NL Industries, Inc. is a major international producer of titanium dioxide pigments.
SOURCE NL Industries, Inc.
CONTACT:
Robert D. Hardy,
Chief Financial Officer of NL Industries,
Inc.
1-281-423-3332