SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
October 21, 1996
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Blount International, Inc.
(Exact name of registrant as specified in its charter)
Delaware 001-11549 63-0780521
(State or other (Commission File (I.R.S. Employer
jurisdiction of Number) Identification
incorporation) Number)
4520 Executive Park Drive 36116-1602
Montgomery, Alabama (Zip Code)
(Address of principal executive offices)
(334) 244-4000
(Registrant's telephone number, including area code)
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Item 5. Other Events.
On October 21, 1996, Blount International, Inc. issued the following press
release:
Blount International, Inc. (NYSE: BLT.A & BLT.B) announced today that its Board
of Directors has authorized the repurchase of up to $50 million of its Class A
common stock. The action of the Board permits the Company to selectively
repurchase its stock from time to time in the open market or in privately
negotiated transactions depending on market price and other factors.
John M. Panettiere, President and Chief Executive Officer, stated, "Despite
record sales and earnings, Blount's shares have continued to trade at a
significant discount to the shares of its peers. The Board of Directors
believes that the Company's shares are undervalued and that the stock repurchase
program is an excellent opportunity to return value to Blount shareholders.
Blount has excess available funds with which to complete this program, while
continuing to aggressively invest in our core businesses, as well as make
strategic acquisitions."
Blount International, Inc. is a diversified international industrial company
headquartered in Montgomery, Alabama with business units manufacturing and
distributing products in more than 130 countries around the world.
Visit our Internet home page at http://www.blount.com
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
BLOUNT INTERNATIONAL, INC.
By: /s/ Harold E. Layman
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Harold E. Layman
Senior Vice President &
Chief Financial Officer
Date: October 25, 1996
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