LOS ANGELES--(BUSINESS WIRE)-- AECOM Technology Corporation (ACM ACM AECOM TECHNOLOGY CORPORATION 19.17 Change +0.08 (+0.42%) AS OF 4:02 PM ET 08/24/12.) , a leading provider of professional technical and management support services for government and commercial clients around the world, announced today that its Board of Directors has authorized the repurchase of up to $300 million of its common stock.
“This repurchase authorization reflects our confidence in AECOM’s long-term outlook and the focus of our capital-allocation strategy on driving sustainable returns as we continue to make progress in areas such as balanced growth, profitability and liquidity,” said John M. Dionisio, AECOM (ACM) chairman and chief executive officer.
AECOM (ACM) completed its first share-repurchase program, worth $200 million, during the third quarter of its fiscal year 2012.
Any repurchases under the current program will be made at the company’s discretion in the open market or in privately negotiated transactions in compliance with applicable securities laws and other legal requirements and will depend on a variety of factors, including market conditions, share price, the terms of the company's credit facilities and other factors.
About AECOM (ACM)
AECOM (ACM) is a global provider of professional technical and management support services to a broad range of markets, including transportation, facilities, environmental, energy, water and government. With approximately 45,000 employees around the world, AECOM (ACM) is a leader in all of the key markets that it serves. AECOM (ACM) provides a blend of global reach, local knowledge, innovation and technical excellence in delivering solutions that create, enhance and sustain the world's built, natural, and social environments. A Fortune 500 company, AECOM (ACM) serves clients in more than 130 countries and had revenue of $8.3 billion during the 12 months ended June 30, 2012. More information on AECOM (ACM) and its services can be found at www.aecom.com.
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