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Roll covers producer Xerium declares Q2 results

12 Aug '05

2 min read

A global machine clothing and roll covers manufacturer and supplier Xerium Technologies Inc reported results for the second quarter of 2005 ended June 30, 2005.

"Thomas Gutierrez, Chief Executive Officer of Xerium Technologies, said, "The paper and paperboard industry that they serve worldwide continues to struggle to improve its performance. They believe the markets have generally weakened."

"More recently, additional paper mill closures and industry consolidation actions were announced in North America and Europe."

"While they believe that these actions are occurring at a more measured pace than in the last several years, they are significant and demonstrate the fact that papermakers continue to be focused on better management of paper and paperboard supply and demand."

He added "The recent paper industry strike in Finland and the nature of the settlement reached in late June also shows a continued focus on cost by the industry, a key factor for us since the primary value we deliver to their customers is help in the reduction of paper production costs."

"They believe that the effects of the paper industry strike in Finland, which primarily impacted our roll covers business, reduced net income per share for the first half of 2005 by approximately $0.02 per share."

"Although they do not expect that the sales lost in the first half of 2005 in connection with the strike will be recovered in future periods, we believe that the affected business has returned to normal since the strike was settled in late June 2005 and the affected mills returned to operation."

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Xerium Technologies Inc is maker & supplier of two types of consumable products used primarily in the production of paper: clothing and roll covers.

Xerium Technologies Inc

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