GP Strategies Announces $10 Million Increase in Share Repurchase Program
Summary
COLUMBIA, Md., Nov. 22, 2017 /PRNewswire/ -- Global performance improvement solutions provider GP Strategies Corporation (NYSE: GPX) today announced that its Board of Directors has authorized a $10 million increase in funding for its share repurchase program, which has approximately $3.6 million remaining, bringing the total authorization to approximately $13.6 million. The Company expects to fund share repurchases using cash generated from operations and borrowings under its $100 million credit facility. The repurchases will be made at managements discretion in accordance with applicable federal securities law. The amount and timing of share repurchases will depend on a variety of factors, including market conditions and prevailing stock prices. Clients include Fortune 500 companies, manufacturing, process and energy industries, and other commercial and government customers.