Wabash National Corporation announced that its board of directors has authorized the Company to repurchase up to two million shares of its common stock until September 15, 2007.
Stock repurchases under this program may be made in the open market or in private transactions, at times and in amounts that management deems appropriate. Wabash may terminate or limit the stock repurchase program at any time. The share repurchase authorized is approximately 6.4% of the 31 million shares outstanding. The program is intended to partially offset dilution resulting from stock award programs.
Bill Greubel, President and Chief Executive Officer, said, "Over the past few years we have significantly improved both our profitability and cash generation. We feel comfortable that we have the resources available to finance our current operations, capital investment initiatives and this stock repurchase program."