AUSTIN, TX - Thermon Group Holdings, Inc. (NYSE:THR), a provider of industrial process heating solutions, has announced the authorization of a share repurchase program by its Board of Directors. The company plans to buy back up to $50 million of its outstanding common stock by March 15, 2027.
Bruce Thames, President and CEO of Thermon, expressed that the repurchase program reflects the board's confidence in the company's long-term strategy and growth potential. He noted that the move is part of a disciplined capital allocation strategy and is aimed at offsetting dilution and enhancing shareholder value.
Thermon, headquartered in Austin, Texas, specializes in flow assurance, process heating, temperature maintenance, freeze protection, and environmental monitoring solutions. The company operates globally and has recently expanded its portfolio with the acquisition of Vapor Power.
This repurchase program does not commit Thermon to any specific number of shares and may be modified or discontinued at the company's discretion. The announcement is based on a press release statement.
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