IKONICS announces sales resumption, share buy-back plan
Wednesday, June 07, 2017
IKONICS Corp. (IKNX), announced today that its largest aerospace customer will resume ordering in June now that its inventory is in line with production forecasts. Assuming no further disruptions, the company’s AMS division now expects a continuous stream of business in line with a long-term agreement with the customer that runs into 2021.
The company also announced that it is resuming its previously announced share buy-back program. The company has board authorization to repurchase up to 250,000 shares. So far, 206,640 shares have been repurchased. Shares may be repurchased in the open market or directly from shareholders who contact the company in privately negotiated transactions.
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