Xerium Announces Planned Closure of Middletown, Virginia Manufacturing Facility
October 15 2015 - 5:05PM
Business Wire
Xerium Technologies, Inc. (NYSE:XRM), a leading global provider
of industrial consumable products and services, today announced the
permanent consolidation of the roll manufacturing operations being
conducted in Middletown, Virginia plant location into other Xerium
roll plants. This closure will not affect the operations &
employees in Xerium’s Global Rolls R&D Center in Middletown. In
fact, it will give the R&D team more room to accomplish product
development and prototypes on next generation products. The
timeline to complete this process is by the end of March of
2016.
“There are very healthy and growing segments of the North
American market and Xerium has an outstanding geographical network
of North American rolls locations to serve these customers out of
its plants in Neenah, WI; Griffin, GA; Ruston, LA; Concord, NH;
Kelso, WA and Queretaro, MX. Unfortunately, the Middletown location
is not uniquely near many customer mill locations and also has very
limited service capabilities. All of the production accomplished in
Middletown, VA will be moved to Xerium’s plants in Neenah, WI;
Griffin, GA; Ruston, LA and Concord, NH. The equipment in the
Middletown, VA plant will primarily be moved outside North America
to other continents that are growing and in need of additional
equipment.” said Harold Bevis, Xerium’s President and Chief
Executive Officer.
“These changes are a Xerium portfolio resource allocation
decision and are not reflective of any performance issues in
Middletown, VA. The decision to consolidate the Virginia operation
is regretful but logically straight forward. The North America
market continues to downsize and reformulate due to the permanent
elimination of graphical grade paper production. While unfortunate,
it is an ongoing market process that is far from over. We fully
expect to continue realigning our operations in this environment.
As with any action that affects our employees, the need to close
this facility comes with great disappointment. We will work
diligently to assist affected employees by helping them transition
to other internal opportunities where available or secure
employment elsewhere.” said Harold Bevis, Xerium’s President and
Chief Executive Officer.“
ABOUT XERIUM
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 27 manufacturing facilities in 13 countries
around the world, Xerium has approximately 3,000 employees.
FORWARD-LOOKING STATEMENTS
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, 2014, which is on file with the
SEC and is 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20151015006071/en/
Xerium Technologies,Inc.Steve Cole, Director – Global
Marketing919-526-1447Steve.Cole@Xerium.com
Xerium (NYSE:XRM)
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