Huttig Announces Share Repurchase
ST. LOUIS, MO -- (Marketwire) -- 12/20/12 -- Huttig Building
Products, Inc. ("Huttig") (OTCQB: HBPI), a leading domestic
distributor of millwork, building materials and wood products, today
announced that it has completed a repurchase of 1.0 million shares of
its common stock at $1.10 per share from its largest stockholder, The
Rugby Group Limited. The share repurchase was effected in a private
transaction and the aggregate purchase price was funded with
Jon Vrabely, President and CEO, stated, "Throughout the entire
unprecedented downturn in the housing market over the past five
years, we have focused on preserving the long-term value proposition
of the company, managing the integrity of the balance sheet and
protecting the interests of our shareholders. To that end, we have
been successful in meeting our objectives without adding significant
debt to the balance sheet or diluting our shareholders. We are
extremely pleased that our financial performance and liquidity
position have provided us the opportunity to deliver meaningful value
to our shareholders through this transaction."
About Huttig Building Products, Inc.
Huttig Building Products, founded in 1885 and headquartered in St.
Louis, MO, is a leading domestic distributor of millwork, building
materials and wood products used principally in new residential
construction and home improvement, remodeling and repair work. Huttig
has relationships with leading manufacturers and distributes its
products through 27 wholesale distribution centers serving 41 states.
The Company's wholesale distribution centers sell principally to
building materials dealers, national buying groups, home centers, and
industrial users, including makers of manufactured homes.
Forward Looking Statements
This press release includes "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. All
of these forward-looking statements are based on estimates and
assumptions made by our management that, although believed by Huttig
Building Products, Inc. to be reasonable, are inherently uncertain.
Forward-looking statements involve risks and uncertainties,
including, but not limited to, economic, competitive, governmental
and technological factors outside of Hutt
ig Building Products, Inc.'s
control that may cause its business, strategy or actual results to
differ materially from the forward-looking statements. These risks
and uncertainties are described in the "Risk Factors" section in the
Company's Annual Report on Form 10-K for the year ended December 31,
2011 and in its periodic reports filed with the Securities and
Exchange Commission from time to time. Given these risks and
uncertainties, you are cautioned not to place undue reliance on
forward-looking statements. Huttig Building Products, Inc. undertakes
no obligation to publicly update or revise any forward-looking
statement as a result of new information, future events, changes in
expectation or otherwise, except as required by law.
For more information about Huttig:
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