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Recommended Stocks In the News: Marine Products Corporation Reports Stock Buyback

10/10/03 A 260% return is what subscribers have reaped by buying Marine Products when we recommended them in June 2001. Meanwhile, the S&P 500 has fallen 18%. Today the company released news of their stock buyback:

ATLANTA, PRNewswire-FirstCall/ -- Marine Products Corporation (Amex: MPX) today reported that during its fiscal quarter ended September 30, 2003 it had purchased for cash on the open market, and retired, a total of 6,200 shares of its $0.10 par value common stock. The stock buyback program authorizes the repurchase of up to one million shares.

Marine Products Corporation (Amex: MPX) designs, manufactures and distributes premium-branded Chaparral sterndrive pleasure boats and Robalo outboard offshore fishing boats, and continues to diversify its product line through product innovation and strategic acquisition. With premium brands and a solid capital structure, Marine Products Corporation is prepared to capitalize on opportunities to increase its market share and to generate superior financial performance to build long-term shareholder value. For more information on Marine Products Corporation visit http://www.marineproductscorp.com.

SOURCE: Marine Products Corporation

 




 

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