Burckhardt Compression concludes share buyback program
December 17, 2010
As announced during the publication of the mid-year results for 2010, Burckhardt Compression Holding AG, Winterthur, ended its share buyback program as scheduled on December 16, 2010.
The company began its share buyback program on December 15, 2008. In December 2009 the buyback program was extended for one year to December 16, 2010. Burckhardt Compression was authorized to repurchase up to 170,000 of the outstanding BCHN shares or 5% of the company’s share capital under this program. A total of 75,317 shares were repurchased, which corresponds to 2.22% of share capital. The original goal of the program – setting aside approximately CHF 20 million in the form of shares for acquisitions – was thus nearly achieved. The repurchased shares held by the company may be used by the Board of Directors for potential acquisitions.
About Burckhardt Compression
Burckhardt Compression is one of the worldwide market leaders in the field of reciprocating compressors and the only manufacturer that offers a complete range of Laby (labyrinth piston), Process Gas, and Hyper Compressors. The compressors are used to compress, cool or liquefy gases. Burckhardt Compression’s customers include multinational companies active in the chemical, petrochemical, refinery, industrial gas and gas transport and storage industries. With the leading compressor technology, the high-quality compressor components and the comprehensive range of services Burckhardt Compression supports its customers in their effort to minimize the life cycle costs of their reciprocating compressor systems.
Rolf Brändli, CFO
Tel.: +41 (0)52 262 51 91
Fax: +41 (0)52 262 04 08
E-mail: [email protected]