ST. LOUIS, July 1, 2008 (PRIME NEWSWIRE) -- Thermadyne Holdings Corporation (Nasdaq:THMD) today announced it has been selected for the Russell 3000 Index. This occurred as Russell reconstituted its comprehensive set of U.S. and global equity indexes.
Annual reconstitution of Russell's U.S. indexes captures the largest U.S. stocks as of the end of May, ranking them by total market capitalization. The new list of companies joined the Russell indexes at the close of the market on June 27, 2008. The Russell family of U.S indexes is designed to be a comprehensive representation of the investable U.S. equity market. These indexes are value-weighted and include only common stocks belonging to corporations incorporated in the United States and its territories.
Membership in the Russell 3000, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000 Index or small-cap Russell 2000 Index, as well as the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes. The Russell 3000 also serves as the U.S. component to the Russell Global Index.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. More information on the Russell indexes is available at www.russell.com.
"It is an honor to be included in the prestigious Russell 3000 Index," said Paul D. Melnuk, Thermadyne's Chairman and Chief Executive Officer. "Inclusion in this widely used index will expose us to an even broader investor audience and should help increase the trading activity in our stock."
About Thermadyne
Thermadyne, headquartered in St. Louis, Missouri, is a leading global manufacturer and marketer of metal cutting and welding products and accessories under a variety of leading premium brand names including Victor(r), Tweco(r) / Arcair(r), Thermal Dynamics(r), Thermal Arc(r), Stoody(r), TurboTorch(r), Firepower(r) and Cigweld(r). Its common shares trade on the NASDAQ under the symbol THMD. For more information about Thermadyne, its products and services, visit the Company's web site at www.Thermadyne.com.
Thermadyne Holdings Corporation logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=4937
Cautionary Statement Regarding Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect management's current expectations and involve a number of risks and uncertainties. Actual results may differ materially from such statements due to a variety of factors that could adversely affect the Company's operating results. These risks and factors are set forth in documents the Company files with the Securities and Exchange Commission, specifically in the Company's most recent Annual Report on Form 10-K and other reports it files from time to time.