Xerium Technologies, Inc. (NYSE:XRM), a leading global provider of industrial consumable products and services, announced that its stock has been added to three Russell equity indexes:
- Russell US Small-Cap 2000® - a US small-cap equity index
- Russell 3000® - a broad market US equity index
- Russell Global - a global equity index
Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes. Xerium’s membership into these three indexes became effective after the close of trading on June 28, 2013. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. Approximately $4.1 trillion in assets currently are benchmarked to them.
Harold Bevis, Xerium's President and Chief Executive Officer, stated, "We are pleased to be added to the Russell indexes. We believe our inclusion reflects the improvements that we are making in the repositioning of the company’s sales and EBITDA profile. Our presence in these widely followed indexes should increase investor awareness of our company and generate additional interest from investors.”
Xerium Technologies, Inc. (NYSE:XRM) is a leading global provider of industrial consumable products and services. Xerium, which operates around the world under a variety of brand names, utilizes a broad portfolio of patented and proprietary technologies to provide customers with tailored solutions and products integral to production, all designed to optimize performance and reduce operational costs. With 28 manufacturing facilities in 12 countries around the world, Xerium has approximately 3,200 employees.
Russell Investments (Russell) is a global asset manager and one of only a few firms that offers actively managed multi-asset portfolios and services that include advice, investments and implementation. Russell stands with institutional investors, financial advisors and individuals working with their advisors—using the firm’s core capabilities that extend across capital market insights, manager research, portfolio construction, portfolio implementation and indexes to help each achieve their desired investment outcomes.
Russell has more than $173 billion in assets under management (as of 3/31/2013) and works with over 2,500 institutional clients, independent distribution partners and individual investors globally. As a consultant to some of the largest pools of capital in the world, Russell has $2.6 trillion in assets under advisement (as of 12/31/2012). It has four decades of experience researching and selecting investment managers and meets annually with more than 2,200 managers around the world. Russell traded more than $1.4 trillion in 2012 through its implementation services business.
Forward-Looking Statements, Estimates and Disclosure Statement
This press release contains forward-looking statements. The words “believe,” “estimate,” “expect,” “intend,” “anticipate,” “goals,” variations of such words, and similar expressions identify forward-looking statements, but their absence does not mean that the statement is not forward-looking. Actual results may differ materially from these forward-looking statements and estimates as a result of various important factors, including, without limitation, the factors discussed in our annual report on Form 10-K for the fiscal year ended December 31, 2012, our Form 10-Q for the quarter ended March 31, 2013, and subsequent filings, all of which are on file with the SEC and are available in the investor relations section of our website at www.xerium.com. Any forward-looking statements are as of the date hereof, and we assume no obligation to publicly update or revise these forward-looking statements for any reason, whether as a result of new information, future events, or otherwise, except as may be required by law.
Phillip B. Kennedy, Investor Relations