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Sanmina-SCI to buy back up to $10M of shares
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SAN JOSE, Calif. - Electronics manufacturing company Sanmina-SCI Corp. said Wednesday that it will repurchase up to $10 million of its stock.
The company said it will buy up to 10 percent of its shares based on the closing price of 65 cents per share, as of close of market Wednesday.
Sanmina said it may repurchase additional shares in the future under the buyback plan. The repurchase program will extend through December 2009.
Its shares fell 3 cents, or 4.4 percent, to close at 65 cents Wednesday.
Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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