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World Fuel Services Corporation, a company principally engaged in the sale of marine, aviation and land fuel products, has announced that its board of directors has renewed its share repurchase program, authorizing the purchase of up to $65 million in common stock. This board action replaces the remainder of the previously announced October 2008 share repurchase authorization.

In a statement, World Fuel Services said: "Share repurchases may be made from time to time in the open market or through privately negotiated transactions. The timing and amount of shares to be repurchased under the program will depend on market conditions, share price, securities law and other legal requirements and factors. The program does not require the purchase of any minimum number of shares, has no expiration date and may be suspended or discontinued at any time without prior notice."

Ira M. Birns, executive vice president and chief financial officer, remarked: "The renewed availability under our share repurchase program demonstrates our continued confidence in World Fuel's business model and long-term strategy, and reflects our commitment to delivering value to our shareholders.

"The additional capacity will allow us to continue to consider repurchases from time to time, when we feel our shares are undervalued, principally to offset the dilutive impact of employee stock awards."