June 8, 2010 (FinancialWire) — Sifco Industries, Inc. (AMEX: SIF) said that its board of directors has approved a stock repurchase program under which the company is authorized to invest up to $1 million to purchase its outstanding common shares.

According to Sifco, the shares, when purchased, will be used for corporate purposes.

The company said that its board believes that the recent market price of Sifco common stock does not reflect the true value of the company and, therefore, the repurchase program represents an attractive investment opportunity for the company.

Ohio-based Sifco Industries is engaged in the production and sale of a variety of metalworking processes, services and products produced primarily to the specific design requirements of its customers.

The processes and services include forging, heat-treating, coating, welding, machining and selective electrochemical finishing. The products include forged components, machined forged components and other machined metal components, remanufactured component parts for aerospace turbine engines, and selective electrochemical finishing solutions and equipment.

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