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Matrix Service Authorizes 3 Million Share Buyback

Posted on: Thu, 12 Feb 2009 23:54:00 EST

Symbols: MTRX

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Feb 13, 2009 (FinancialWire via COMTEX) --
MTRX | Quote | Chart | News | PowerRating -- February 13, 2009 (FinancialWire) -- Matrix Service Co. (NASDAQ: MTRX | Quote | Chart | News | PowerRating) (Current Market Cap: US$171.16 Mil.) said that its board of directors approved a new share repurchase program authorizing the repurchase of up to three million shares of the company's common stock with an annual cap of $25 million in share repurchases.

The program will be effective through December 31, 2012.

Tulsa, Oklahoma-based Matrix Service provides general industrial construction and repair and maintenance services principally to the petroleum, petrochemical, power, bulk storage terminal, pipeline and industrial gas industries.

The company has regional operating facilities located in Oklahoma, Texas, California, Michigan, Pennsylvania, Illinois, Washington and Delaware in the U.S. and Canada.

FinancialWire" ( http://www.financialwire.net ), an independent, proprietary news service of Investrend Communications, Inc., receives no compensation for its news or opinions. Further disclosure is at http://www.investrend.com/articles/secondlevel.asp?level=472 . To contact FinancialWire" write to inquiries@financialwire.net .

Free annual reports for companies mentioned in the news are accessible via http://investrend.ar.wilink.com/?level=279 .

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