Jan. 6--YOUNGSVILLE -- Xerium Technologies, which makes equipment for the papermaking industry, reported Monday that its shares face delisting for failing to meet minimum New York Stock Exchange standards.

The Youngsville company said it has fallen out of compliance because its average share price has been less than $1 for 30 consecutive trading days and because its market capitalization, or total value of its outstanding stock, is less than $75 million.

Xerium shares closed Monday at 69 cents, up 3 cents. Its shares fetched more than $8 in September.

The company skirted bankruptcy last summer by restructuring $660 million in debt. Xerium said it has at least six months to bring its share price above $1 and has 45 days to submit a plan to boost its market cap, which it intends to do.

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