Xerium's clothing & rolls business remain stable in Europe
13 Nov '06
3 min read
Xerium Technologies Inc, a leading global manufacturer of clothing and roll covers used primarily in the paper production process, reported results for the third quarter ended September 30, 2006.
Thomas Gutierrez, Chief Executive Officer of Xerium Technologies, said, "Earnings for the third quarter this year were affected by several factors, including significant investments in areas across our businesses."
"During this quarter the majority of our planned 2006 restructuring activities were completed. We have now moved beyond restructuring efforts and started to focus on initiatives designed to further differentiate Xerium in the marketplace."
"Top line growth during the third quarter this year, compared to the prior year, was modest. We made good progress in our rolls business and our clothing business remained stable during the traditionally slow summer holidays in Europe."
"Overall pricing declined slightly, with marginal increases recorded in our clothing segment more than offset by decreases in roll covers. Customers continue to support our overall value proposition because they recognize that Xerium's technologies and technical support can enable them to increase efficiencies and reduce costs in the papermaking process."
"Based upon third-party sources, we believe that Xerium's clothing market share over the first nine months of this year has not changed compared to the same period last year, with increases in North Americaand Asia offset by declines in Europe. We also continue to maintain good control over inflationary pressures."
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