Xerium had fallen out of compliance with NYSE listing standards in 2012 as a result of poor performance and an inadequate market capitalization. Since that time, the company made a few leadership changes and began a fundamental restructuring of its business. The NYSE’s decision is a result of Xerium’s markedly improved performance over the last 2 quarters and a recovered market capitalization.
“We are happy that our improved performance has led the NYSE to return Xerium to full compliance,” said Harold Bevis, Xerium’s President and CEO. “We are at the beginning of the restructuring of Xerium’s operations and we are pleased with our initial results. Xerium is committed to improving its results and increasing shareholder value.”
About Xerium Technologies
Xerium Technologies, Inc. is a leading global provider of industrial consumable products and services. Xerium 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.
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