STAMFORD, Conn.--(BUSINESS WIRE)--Mar. 3, 2014--
Silgan Holdings Inc. (Nasdaq:SLGN), a leading supplier of rigid
packaging for shelf-stable food and other consumer goods products,
announced today that its Board of Directors has authorized the Company
to repurchase up to an aggregate of $300 million of its common stock,
inclusive of prior authorizations. This authorization is effective
through December 31, 2019.
“As in the past, we maintain a disciplined approach to capital
deployment with a priority towards growth investments for the Company,”
said Tony Allott, President and CEO. “This authorization will allow us
to repurchase stock from time to time. At this point, we see plenty of
opportunities to invest in our business, and we do not envision a large
one-time buyback,” concluded Mr. Allott.
Silgan Holdings is a leading supplier of rigid packaging for
shelf-stable food and other consumer goods products with annual net
sales of approximately $3.7 billion in 2013. Silgan operates 88
manufacturing facilities in North and South America, Europe and Asia.
Silgan is a leading supplier of metal containers in North America and
Europe and a leading worldwide supplier of metal, composite and plastic
closures for food and beverage products. In addition, Silgan is a
leading supplier of plastic containers for shelf-stable food and
personal care products in North America.
Statements included in this press release which are not historical facts
are forward looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995 and
the Securities Exchange Act of 1934. Such forward looking statements are
made based upon management’s expectations and beliefs concerning future
events impacting the Company and therefore involve a number of
uncertainties and risks, including, but not limited to, those described
in the Company’s Annual Report on Form 10-K for 2013 and other filings
with the Securities and Exchange Commission. Therefore, the actual
results of operations or financial condition of the Company could differ
materially from those expressed or implied in such forward looking
Source: Silgan Holdings Inc.
Silgan Holdings Inc.
Robert B. Lewis, 203-406-3160