Globe Specialty Metals Announces Authorization for $75M Stock Repurchase Plan

Globe Specialty Metals, Inc.(Nasdaq: GSM) today announced that its Board of Directors has authorized therepurchase of up to $75 million of its common shares. The authorization isvalid through December 31, 2014. The share repurchases are expected to be madethrough open market purchases, 10b5-1 programs, privately negotiatedtransactions or otherwise as market conditions warrant, and at prices theCompany deems appropriate and subject to applicable legal requirements andother factors.About Globe Specialty MetalsGlobe Specialty Metals, Inc. is among the world's largest producers of siliconmetal and silicon-based specialty alloys, critical ingredients in a host ofindustrial and consumer products with growing markets. Customers include majorsilicone chemical, aluminum and steel manufacturers, auto companies and theirsuppliers, ductile iron foundries, manufacturers of photovoltaic solar cellsand computer chips, and concrete producers. The Company is headquartered inNew York City. For further information please visit our web site atwww.glbsm.com.Forward Looking StatementsThis release may contain ''forward-looking statements'' within the meaning ofthe U.S. Private Securities Litigation Reform Act of 1995. Forward-lookingstatements can be identified by words such as ''anticipates,'' ''intends,''''plans,'' ''seeks,'' ''believes,'' ''estimates,'' ''expects'' and similarreferences to future periods, or by the inclusion of forecasts or projections.Forward-looking statements are based on the current expectations andassumptions of Globe Specialty Metals, Inc. (the "Company") regarding itsbusiness, financial condition, the economy and other future conditions.Because forward-looking statements relate to the future, by their nature, theyare subject to inherent uncertainties, risks and changes in circumstances thatare difficult to predict. The Company's actual results may differ materiallyfrom those contemplated by the forward-looking statements. The Companycautions you therefore that you should not rely on any of theseforward-looking statements as statements of historical fact or as guaranteesor assurances of future performance. Important factors that could cause actualresults to differ materially from those in the forward-looking statementsinclude regional, national or global political, economic, business,competitive, market and regulatory conditions including, among others, changesin metals prices; increases in the cost of raw materials or energy;competition in the metals and foundry industries; environmental and regulatoryrisks; ability to identify liabilities associated with acquired propertiesprior to their acquisition; ability to manage price and operational risksincluding industrial accidents and natural disasters; ability to manageforeign operations; changes in technology; and ability to acquire or renewpermits and approvals.Any forward-looking statement made by the Company or management in thisrelease speaks only as of the date on which it or they make it. Factors orevents that could cause the Company's actual results to differ may emerge fromtime to time, and it is not possible for the Company to predict all of them.The Company undertakes no obligation to publicly update any forward-lookingstatement, whether as a result of new information, future developments orotherwise, unless otherwise required to do so under the law or the rules ofthe NASDAQ Global Market.