Ceradyne Announces Common Stock Repurchase Program of up to $100M

Ceradyne, Inc. CRDN announced today that its Board of Directors has authorized the repurchase of up to $100 million of Ceradyne common stock in open market transactions, including block purchases, or in privately negotiated transactions. This authorization is in addition to the approximately $7.5 million remaining under the Company's $100 million stock repurchase program authorized in March 2008. The stock repurchase program does not include specific price targets or timetables and may be suspended or terminated at any time prior to completion. Ceradyne intends to use cash on hand to acquire the shares. Repurchased shares will be cancelled.