H&E Announces Stock Repurchase Program

H&E Equipment Services last week said its board of directors has authorized a stock repurchase program, under which the company may purchases, from time to time up to $100 million of the company’s outstanding common stock. The company said it would acquire the shares in open-market transactions at prevailing prices or through privately negotiated transactions as conditions permit.

The repurchase program is expected to continue until the end of 2008 unless extended or shorted by the board. The company expects to fund the repurchases with working capital or borrowings under its existing credit facility.

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