Business News

Brady Corporation Announces Additional Share Buyback Program

Thursday 13. March 2008 - Brady Corporation (NYSE: BRC) today announced that its Board of Directors has authorized a share buyback program for up to 1 million additional shares of the Company's common stock.

The share repurchase plan may be implemented from time to time on the open market or in privately negotiated transactions, with repurchased shares available for use in connection with the Company’s stock-based plans and for other corporate purposes.
“We have nearly completed the repurchase of 1 million shares authorized by our Board in September 2007. While the primary use of our free cash flow continues to be to fund our acquisition program, the current softness in the equity markets offers us an opportunity to expand our modest stock repurchase program and reduce the dilutive effect of our equity-based incentive plans,” said Brady President and CEO Frank M. Jaehnert.

Brady Corporation is an international manufacturer and marketer of complete solutions that identify and protect premises, products and people. Its products help customers increase safety, security, productivity and performance and include high-performance labels and signs, safety devices, printing systems and software, and precision die-cut materials. Founded in 1914, the company has more than 500,000 customers in electronics, telecommunications, manufacturing, electrical, construction, education, medical and a variety of other industries. Brady is headquartered in Milwaukee and employs more than 8,600 people at operations in the Americas, Europe and Asia/Pacific. Brady’s fiscal 2007 sales were approximately $1.363 billion.