Xerium Technologies, Inc. (NYSE:XRM), a leading global manufacturer of
clothing and roll covers used primarily in the paper production process,
today announced that it has appointed to its Board of Directors Roger A.
Bailey, a veteran of the pulp and paper industry and currently
President, Power Products, North America for ABB, Inc.
“During my years with Xerium, I have come to know Roger as one of the
most well-respected leaders in the paper industry,” said Stephen R.
Light, the Company’s Chairman, President and Chief Executive Officer.
“As the former Group Vice President of ABB’s Pulp and Paper Business
Unit, he was successful in growing the business during a time of
declining paper volume and in restructuring the ABB footprint towards
growth-oriented markets. His experience will be invaluable to Xerium
particularly as we continue to implement our recently announced
strategic plan 'Vision 2015.'”
About Xerium Technologies
Xerium Technologies, Inc. (NYSE:XRM) 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 around the 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
31 manufacturing facilities in 14 countries around the world, Xerium has
approximately 3,400 employees.
This press release contains forward-looking statements involving risks
and uncertainties, both known and unknown, that may cause actual results
to differ materially from those indicated. These risks and uncertainties
include the following items: (1) our financial results could be
adversely affected by fluctuations in interest rates and currency
exchange rates, for instance a marked decline in the value of the Euro
relative to the U.S. Dollar stemming from the European sovereign debt
crisis; (2) a sustained downturn in the paper industry, compounded by
uncertainty in global economic conditions, could adversely affect our
revenues and profitability; (3) market improvement in our industry may
occur more slowly than we anticipate, may stall or may not occur at all;
(4) variations in demand for our products, including our new products,
could negatively affect our revenues and profitability; (5) our
manufacturing facilities may be required to quickly increase or decrease
production, which could negatively affect our production facilities,
customer order lead time, product quality, labor relations or gross
margin; (6) our plans to develop and market new products, enhance
operational efficiencies, and reduce costs may not be successful; and
(7) the other risks and uncertainties discussed elsewhere in this press
release, our Form 10-K for the year ended December 31, 2011 filed on
March 14, 2012 and our other SEC filings. If any of these risks or
uncertainties materialize, or if our underlying assumptions prove to be
incorrect, actual results may vary significantly from what we projected.
Any forward-looking statement in this press release reflects our current
views with respect to future events. We assume no obligation to publicly
update or revise these forward-looking statements for any reason,
whether as a result of new information, future events, or otherwise. As
discussed above, we are subject to substantial risks and uncertainties
related to current economic conditions, and we encourage investors to
refer to our SEC filings for additional information. Copies of these
filings are available from the SEC and in the investor relations section
of our website at www.xerium.com.