Westlake, Ohio, USA – September 12, 2011 - Nordson Corporation (Nasdaq: NDSN) today announced that its Board of Directors has authorized a $100 million share repurchase program. The company has completed the repurchase of the 2 million shares authorized under its previous program.
“The Board’s action reflects continued confidence in the long-term strength of our company and our ongoing commitment to creating shareholder value,” said Nordson President and CEO Michael F. Hilton. “Nordson continues to generate strong cash flow which enables us to be opportunistic in repurchasing shares while also making investments to fund long term organic and acquisitive growth opportunities.”
Expected uses for repurchased shares include, but are not limited to, funding benefit programs including stock options, restricted stock and 401(k) matching. Shares repurchased will be treated as treasury shares until used for such purposes.
Shares may be purchased from time to time at prevailing prices, subject to market conditions, share price and other considerations. Purchases will be made on the open market pursuant to the applicable Securities Exchange Act Rules and will be funded from operating cash flows.
Nordson Corporation is one of the world’s leading producers of precision dispensing equipment that applies adhesives, sealants, coatings and other materials to a broad range of consumer and industrial products during manufacturing operations. The company also manufactures equipment used in the testing and inspection of electronic components as well as technology-based systems for curing and surface treatment processes. Headquartered in Westlake, Ohio, Nordson has direct operations and sales support offices in more than 30 countries. Visit Nordson online at www.nordson.com, www.twitter.com/nordson_corp, or www.facebook.com/nordson.
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CONTACT: Nordson Corporation
James R. Jaye (Director, Communications and Investor Relations)