Interviews
News Flash
Xerium net sales up 4.2% for Q1 ended March 31
29 Jun '05
8 min read
He added, "Cash generation is one of the principal strengths of our business and we were pleased with our working capital performance and cash flow generation in the first quarter of this year. As has been the case in the past, we expect that Xerium will continue to deliver strong cash flows to provide investment in the business, improve our capital structure and support the Company's stated initial dividend policy."
Mr. Gutierrez continued, "It is clear that on a global basis, the paper industry recovery that many have expected has not yet occurred. We believe that the market for our products is still reflecting the impact of the numerous mill closures that have occurred and the significant number of paper machines that have been taken out of service over the last several years. It also appears that the early effects of the labor unrest at paper mills in Finland resulted in lower paper production operating rates and impacted sales for Xerium Technologies in that region during the first quarter of 2005. Putting aside the labor issues in Finland, we believe that the market for our products, on a global basis, has stabilized.
"Looking ahead," he added, "we continue to be a technical leader in the market with a demonstrated ability to identify and deliver cost, efficiency and quality improvement programs that our customers value highly as they strive to improve their profitability. Our success in building these strong customer relationships has enablechnical leader in the market with a demonstrated ability to identify and deliver cost, efficiency and quality improvement programs that our customers value highly as they strive to improve their profitability. Our success in building these strong customer relationships has enabled us to improve our position even in difficult market conditions, and we expect this to continue going forward. In addition, we have continued to improve our cost structure and have several restructuring programs under way that we expect will generate significant benefits in the coming quarters."
Mr. Gutierrez continued, "It is clear that on a global basis, the paper industry recovery that many have expected has not yet occurred. We believe that the market for our products is still reflecting the impact of the numerous mill closures that have occurred and the significant number of paper machines that have been taken out of service over the last several years. It also appears that the early effects of the labor unrest at paper mills in Finland resulted in lower paper production operating rates and impacted sales for Xerium Technologies in that region during the first quarter of 2005. Putting aside the labor issues in Finland, we believe that the market for our products, on a global basis, has stabilized.
"Looking ahead," he added, "we continue to be a technical leader in the market with a demonstrated ability to identify and deliver cost, efficiency and quality improvement programs that our customers value highly as they strive to improve their profitability. Our success in building these strong customer relationships has enablechnical leader in the market with a demonstrated ability to identify and deliver cost, efficiency and quality improvement programs that our customers value highly as they strive to improve their profitability. Our success in building these strong customer relationships has enabled us to improve our position even in difficult market conditions, and we expect this to continue going forward. In addition, we have continued to improve our cost structure and have several restructuring programs under way that we expect will generate significant benefits in the coming quarters."
Popular News
Leave your Comments
Editor’s Pick
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
