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Rock-Tenn Company Amends Stock Repurchase Program
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Norcross, Georgia, USA, 24 August 2007 --(Business Wire)-- Rock-Tenn Company (NYSE:RKT) announced that its board of directors approved an amendment to the company's stock repurchase program to increase by 2.0 million shares the number of shares of Class A Common Stock authorized for repurchase, bringing the total number of shares remaining authorized for repurchase to 2,461,932 shares. The repurchases may be made in open market or private transactions.

The company intends to finance any repurchases with cash generated from operations and borrowings under its revolving credit facility. Since 30 June 2007, the company has repurchased approximately 1.6 million shares of Common Stock at an average price of USD 27.12, representing a repurchase of approximately 3.9% of the company's outstanding shares as of that date.

Rock-Tenn Company provides a wide range of marketing and packaging solutions to consumer products companies at low costs, with annual net sales of approximately USD 2.3 billion and operating locations in the United States, Canada, Mexico, Argentina, and Chile. The company is one of North America's leading manufacturers of packaging products, merchandising displays, and bleached and recycled paperboard.

 

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