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.”
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 28 manufacturing facilities in 12 countries around the world, Xerium has approximately 3,200 employees. About Russell: 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.