- Repurchases Under Previous Authority Completed in November 2008
Westlake, Ohio - December 17, 2008 - Nordson Corporation (Nasdaq:NDSN) today reported that its Board of Directors has authorized the company to repurchase up to 1 million common shares of the company's stock, or approximately 3 percent of the shares outstanding, over a 3 year period. Repurchases of the 1 million shares authorized by the Board in August 2006 were completed during November 2008.
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 and coatings 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 more than 4,100 employees worldwide, and direct operations and sales support offices in more than 30 countries.
Media and Investor Contact:
James R. Jaye, Director, Corporate Communications & Investor Relations