Webco Industries, Inc. Announces Major Share Buyback Worth $28.7 Million

Webco Industries Announces Share Repurchase

Webco Industries, Inc. (OTC: WEBC), recognized for its innovation in metal products, has recently made headlines with its announcement regarding a notable share repurchase. On January 2, 2025, the company revealed that it successfully acquired 143,443 shares of its common stock in a private transaction that totaled approximately $28.7 million. This acquisition signifies a purchase of around 16.8% of Webco's outstanding shares prior to the transaction.

The funding for this share repurchase came from a strategic mix of cash reserves combined with borrowing from the company's revolving line of credit. This move, as stated by Dana S. Weber, the Chairman and CEO of Webco, was initiated after a shareholder approached the company regarding the potential sale of their shares. Following the endorsement from the Board of Directors, the decision to proceed was made swiftly.

As a result of the repurchase, Webco's outstanding shares now number 712,300. Notably, a significant portion of these shares, estimated at 78.5%, remain in the hands of the Weber family and company management. Weber expressed satisfaction with their decision, emphasizing that Webco has been consistently committed to providing liquidity to its shareholders.

Webco's mission focuses on fostering long-term company growth while adhering to their core values of trust and teamwork. The company is dedicated to creating a resilient and innovative corporate environment that focuses on enriching stakeholder connections—whether they be employees, customers, partners, or investors. In line with these principles, Webco produces high-quality carbon steel, stainless steel, and specialized metal tubing products tailored to meet industry demands.

Operating five production facilities located in Oklahoma and Pennsylvania, Webco maintains eight additional value-added facilities strategically positioned in Oklahoma, Illinois, Michigan, Pennsylvania, and Texas. This extensive network allows the company to cater to a global clientele, enhancing its operational outreach and service efficiency.

To further support its innovative purposes, Webco has established the F. William Weber Leadership Campus in Sand Springs, Oklahoma. This facility not only houses the corporate offices but also features the Webco TechCenter™, which serves as a cutting-edge lab dedicated to research and development. This center is instrumental in advancing Webco's technical solutions and product offerings.

Given the dynamic nature of the market and the company's proactive approach, this share repurchase signals a robust confidence in Webco’s future while driving shareholder value. As the company expands and innovates within the metal products segment, its focus remains on sustainable growth and continued engagement with key stakeholders in their mission to thrive for generations to come.