Mace initiates stock buyback plan
MOUNT LAUREL, N.J. - Mace Security International announced plans this week to buy up to two million shares of its own stock in a move to instill investor confidence.
"We want to send a strong message to the market and to our shareholders that we are confident in Mace's fundamental value and future initiatives," said Louis Paolino, chairman and chief executive officer of Mace.
Plans call for the company to buy the stock in the open market at times and prices that management at Mace deems appropriate.
Mace recently received word that its stock has traded under $1 per share for 30 consecutive days and that Nasdaq could delist the company if the bid price does not return to $1 per share for 10 consecutive days by Dec. 31, 2002.
Richardson opens branch in China
LAFOX, Ill. - Security product supplier Richardson Electronics has opened an office in Beijing, China, the company's third location in China.
The new location enables the company to provide its services on a global basis, said Edward Richardson, chairman of the board and chief executive officer of Richardson Electronics.
BesidesÃ‚Â securityÃ‚Â products, Richardson Electronics also serves the RF and wireless communication markets and the industrial power conversion market.
Speyer joins Synergis
EDMONDS, Wash. - The former head of PSA Security Network, Roger Speyer, has joined Synergis Systems as its new director of business development.
Speyer will be responsible for introducing the company's products to the marketplace, setting up distribution channels, entering into strategic partnerships and providing marketing direction.
Synergis Systems offers access control hardware and software solutions for the security industry.