Micronics to Buy Back Up to 1 Million Shares

The board of directors of Micronics International in Ventura has agreed to authorize the repurchase of up to 1 million shares of the company’s common stock.

Board members said a recent and unexpected lower trading price enables the company to procure stock needed for future acquisitions.

The company continues to look in China for small regional component distributors that seek support in America. Micronics officials said they hope to announce a merger by this summer.