Simpson Industries' Board OKs Stock Repurchase Program

Autoparts Report, April 25, 2000

Plymouth, Mich.-based Simpson Industries Inc.'s board has authorized management to repurchase up to 600,000 shares of the company's outstanding common stock for general corporate purposes.

The shares under this authorization are expected to be acquired by Simpson Industries from time-to-time, depending upon market conditions and other factors and will be repurchased on the open market or through private transactions.

The company also said its previous stock repurchase program to buyback 650,000 shares of common stock authorized by the board in April 1998 was completed last month.

Simpson Industries supplies powertrain and chassis products to original equipment manufacturers in the automotive and medium- and heavy-duty diesel engine markets. Simpson's products are focused in three groups: noise, vibration and harshness; wheel-end and suspension; and modular engine assemblies.

Simpson's manufacturing units are located in the United States, Canada, Mexico, Brazil, England, India, France, Spain, and South Korea.