Federal Screw to Repurchase Shares

Jason Sandefur

Federal Screw Works authorized the repurchase of up to 185,000 shares � about 13% of outstanding common stock. The company�s board of directors said the program will bring St-Clair Shores, MI-based Federal Screw into compliance with NASDAQ�s Controlled Company exemption from certain new director independence and board committee requirements. The cost of the repurchase was not disclosed. Web: federalscrew.com �2003 FastenerNews.com