YOUNGSVILLE, N.C., Feb. 4, 2015 (GLOBE NEWSWIRE) -- Xerium Technologies, Inc. (NYSE:XRM), a leading global provider of industrial consumable products and services, is pleased to announce that Macquarie Capital has initiated analyst coverage on Xerium.
"We are pleased that the investor community following Xerium is growing. The company's long term plan is to increase its share of the growing global markets in which we participate," said Harold Bevis, Xerium's President and CEO. "By selectively reinvesting in our business, we expect to generate high free cash flows that will enable the pay down of over half our debt by 2020."
Any opinions, estimates or forecasts regarding Xerium's performance made by these analysts are theirs alone and do not represent the opinions, forecasts or predictions of Xerium or its management. Xerium does not imply its endorsement of or concurrence with such information, conclusions or recommendations.
About Xerium Technologies
Xerium Technologies, Inc. (NYSE:XRM) is a leading global provider of industrial consumable products and services. Xerium 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. Xerium has 26 manufacturing facilities in 12 countries around the world and employs approximately 3,100 employees.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements. The words "believe," "estimate," "expect," "intend," "anticipate," "goals," variations of such words, and similar expressions identify forward-looking statements, but their absence does not mean that the statement is not forward-looking. Forward-looking statements involve 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 past results are not guarantees of future results; (2) our plans to improve and to pursue top-line growth may not be as successful as we anticipate; (3) our industry markets may not remain stable; and (4) the other risks and uncertainties discussed elsewhere in this press release, our Form 10-K for the year ended December 31, 2013, our Form 10-Qs for the quarters ended March 31, 2014, June 30, 2014 and September 30, 2014 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. Except as required by law, 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. Copies of our SEC filings are available from the SEC and in the investor relations section of our website at www.xerium.com.