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Xerium Technologies declares sale of HDEB

28 Aug '06

2 min read

Xerium Technologies Inc a leading global manufacturer of clothing and roll covers used primarily in the paper production process, announced that it has completed the sale of its Huyck Dewatering Equipment Business (HDEB), based in Whitstable, United Kingdom, to subsidiaries of Groupe Laperriere & Verreault Inc.

The Huyck Dewatering Equipment Business is engaged primarily in the business of the manufacture and sale of equipment utilized in the wet end of paper-producing machines for the purpose of enhancing the removal of water from the paper manufacturing process.

Net sales of the Huyck Dewatering Equipment business for the first half of 2006 were approximately US$ 2.0 million. Financial terms of the transaction were not disclosed.

Tom Gutierrez, Xerium's President and Chief Executive Officer, said, "We are pleased to complete the sale of the Huyck Dewatering Equipment Business. This business had been operated in connection with our European clothing operation, and we believe that the divestment of this non-core business represents an opportunity to enhance the focus of our European clothing management team on its core business."

Xerium Technologies Inc 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 aroundthe 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 34 manufacturing facilities in 15 countries around the world, Xerium has approximately 3,900 employees.

Xerium Technologies Inc

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