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#We remain consistent in terms of our communication around capital allocation.
First we are going to invest in the existing businesses to drive our organic growth.
We still see opportunities within Maenner, within Synventive, in terms of their continued ---+ the opportunities that are presented to those businesses globally.
So as I've communicated in the past, Phase II of Maenner is very much underway.
We continue to look at the investments required to expand in North America.
And secondarily, as we think about the M&A side of the equation, we are very much, holding to the high discipline that I continued to reference around the criteria.
So, even as we see some of these markets slowing, if we believe that there is an industrial technology that provides great value to the customer base, and that the customer places a premium on that technology, then it still is going to be something we are willing to pursue in terms of M&A.
And then our last and third capital allocation criteria is share repurchase and dividends.
So we're going to be continued to be in tune with our shareholders and continue to buy back as we see the opportunity presenting itself opportunistically.
Thank you.
Thank you, <UNK>.
