Xerium Technologies Regains Compliance with NYSE Continued Listing Standards
July 01 2010 - 4:05PM
Business Wire
Xerium Technologies, Inc. (NYSE:XRM), a leading global
manufacturer of industrial textiles and rolls used primarily in the
paper production process, today announced that on June 29, 2010, it
received notification from the New York Stock Exchange (“NYSE”)
that it has regained full compliance with NYSE standards for
continued listing of the Company’s common stock on the
exchange.
As a result of this notice, the Company will no longer be
included in a list of noncompliant companies and the Company's
stock symbol will no longer be appended with “.BC” (below
compliance) indicator.
“We are pleased to have regained full compliance with the NYSE’s
listing standards,” commented Stephen R. Light, Chairman, President
and Chief Executive Officer. “This notice of compliance follows on
the heels of our recent emergence from our pre-packaged chapter 11
plan of reorganization and marks an important milestone for Xerium,
as we now put this process behind us and move forward with pursuing
our operating strategy which we believe will lead to positive
results for our stakeholders.”
About Xerium Technologies
Xerium Technologies, Inc. (NYSE:XRM) is a leading global
manufacturer and supplier of two types of consumable products used
primarily in the production of paper: clothing and roll covers. The
Company, 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 32 manufacturing
facilities in 13 countries around the world, Xerium has
approximately 3,300 employees.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements involving
risks and uncertainties, both known and unknown, that may cause
actual results to differ materially from those indicated. These
risks and uncertainties include the following items: (1) our actual
costs and cost savings may vary from our expectations due to
inefficiencies in production, lost sales resulting from shifting
production to other facilities, or other factors; (2) we are
subject to significant risks as a result of the current global
economic crisis and the associated unpredictable market conditions;
and (3) the other risks and uncertainties discussed elsewhere in
this press release, our Form 10-K for the year ended December 31,
2009, and our subsequent filings with the Securities and Exchange
Commission (SEC). If any of these risks or uncertainties
materialize, or if our underlying assumptions prove to be
incorrect, actual results may vary significantly from what we
projected. Any forward-looking statement in this press release
reflects our current views with respect to future events. 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. We encourage investors to refer to our
SEC filings for additional information. Copies of these filings are
available from the SEC and in the investor relations section of our
website at www.xerium.com.
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