Tupy S.A. announces an Equity Buyback for 235,000 shares, representing 0.36% of its issued share capital.
January 22, 2020 at 10:17 pm
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Tupy S.A. (BOVESPA:TUPY3) announces a share repurchase program. Under the program, the company will repurchase up to 235,000 shares representing 0.36% of the company's outstanding shares. The purpose of the program is to meet the exercise of options by the participants of the purchase option plan or subscription of shares Issued by the company. The program will be funded from the company's cash and cash equivalents account and financial investments. The repurchase program will be valid until December 30, 2020. As of January 22, 2020, the company had 66,131,702 shares outstanding and 0 shares in treasury.
Tupy SA is a Brazil-based company principally engaged in the production and commercialization of parts for the automotive industry. The Companyâs activities are divided into two business segments: Automotive and Hydraulics. The Automotive division focuses on manufacturing engines and its components, brake systems, bearings, as well as transmission, steering, axle and suspension components, among others. The Hydraulics division is responsible for producing flexible iron connections for the construction industry, iron and steel grits for the marble and granite processing industry, as well as cast-iron shapes for general use. The Company owns industrial plants and sales offices in a number of countries, such as Brazil, Mexico, the United States and Germany. The Company operates through Tupy Agroenergetica Ltda, Sociedade Tecnica de Fundicoes Gerais SA, Tupy American Foundry Co, Tupy American Iron & Alloys Co and Tupy Europe GmbH, among others.
TUPY S.A. 
