National Automation Services, Inc. (NAS) excitedly announced today that it is planning to repurchase 50% of all outstanding free trading common stock from its investors at fair market price. With intentions to begin repurchasing shares next month, the company plans to use the stock for new acquisitions. According to the press release, NAS is prepared to repurchase as many as 28 million shares, which is a massive reinvestment into the company.
Bob Chance, President and CEO of National Automation Services, commented, “The Company is making this move to fill the Treasury with stock to be used in negotiating the planned acquisitions. More details of the planned repurchase will be released on the day of implementation.”
National Automation Services, Inc. is a public holding company focused on designing, engineering, installing and maintaining automated control systems for such business applications as waste water treatment, water treatment, airport security, bottling plants, power plants, metals, mining, breweries, food processing, tire making, textiles, plastics and nearly all production activities.
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