Xerium Technologies, Inc. (NYSE: XRM), a leading manufacturer and supplier of machine clothing and roll covers for the paper and packaging industry, has just announced that its Board of Directors has initiated a review of strategic alternatives to maximize shareholder value. Alternatives could include a sale of the Company or of its divisions and selected assets in separate transactions, a strategic merger, a Reverse Morris Trust transaction, or other business combination. The Company has engaged TN Capital Advisors LLC (“True North”) as financial advisor and Latham & Watkins LLP as legal advisor to assist in the process.

xerium logo largeJames Wilson, Chairman of the Board, said, “Our markets are stable and our execution is strong and getting stronger. With an expected EBITDA to capital expenditure ratio of roughly 7 times, Xerium is on a path to increase shareholder value through debt reduction. However, the Company currently carries expensive debt that could be refinanced on more attractive terms by a buyer, and suffers from poor stock trading liquidity. After careful consideration, the Board has determined that there may be opportunities to accelerate value recognition or unlock additional value through strategic actions, and this is an appropriate time to identify and evaluate options for shareholders.”

Mark Staton, President and Chief Executive Officer, said, “Our people have done a great job of completing this complex asset restructuring. We are now a company with high quality assets in regions around the world poised for growth, with 75% of our product sales in markets for growing grades of paper and packaging.”

There can be no assurance that the Board’s strategic review will result in any transaction, or any assurance as to its outcome or timing.

The Company does not intend to disclose or comment on developments related to its review unless and until the Board has approved a specific transaction or otherwise determined that further disclosure is appropriate.

About Xerium Technologies

Xerium Technologies (NYSE:XRM) is a global leader in the design, engineering, manufacture and installation of machine clothing and roll covers for the world’s leading producers of paper and packaging. For more information about Xerium visit our website at www.xerium.com

Published in financial News

Engineered for Faster Start-up, Wider Operational Window and Extended Life

Xerium Technologies, Inc. (NYSE: XRM), a leading global provider of industrial consumable products and services, recently introduced Maximus - a totally new portfolio of press felt technology for today’s most demanding press positions.

2017 10 17 074157Maximus’ single-base structure design with lower fabric caliper delivers immediate start-up without the typical long break-in periods often required for conventional technology.

In addition, its innovative drainage channels and special warp-bound weave concept provide maximum dimensional stability and compaction resistance which ensures high-performance dewatering, longer running life and excellent end-product quality. Maximus technology is ideal for machines producing containerboard, packaging, and graphical paper grades.

“Maximus is already producing great operational results on the most demanding machines in the world,” said Bill Butterfield, EVP and CTO of Xerium. “We are delighted to see our customers experiencing tangible financial benefits from this new product portfolio with improved machine performance, enhanced operating range and overall lower cost-per-ton.”

Additional details are available at Xerium.com.

Watch the Maximus video.

ABOUT XERIUM TECHNOLOGIES

Xerium Technologies, Inc. (NYSE: XRM) is a leading, global provider of industrial consumable products and services. Its products and services are consumed during machine operation by its customers. Xerium operates around the world under a variety of brand names, and 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 28 manufacturing facilities in 13 countries around the world, Xerium has approximately 2,950 employees.

Published in European News

Xerium Technologies, Inc. (NYSE: XRM), a leading global provider of industrial consumable products and services, recently hosted over 120 customers for a technical seminar in Kunshan, China.

xerium logo largeThe seminar titled, “Innovative Technology - Upgrade Your Paper Machine," was held at the Crowne Plaza Hotel in Kunshan, China June 7-8, 2017.

Bob Burke, President of Xerium Asia commented, “More and more paper mills are looking for efficiency improvements in their existing machine assets. And Xerium is an expert at helping customers achieve those higher levels of performance. Xerium is always developing new technologies geared to saving fiber, energy and to improving the overall profitability of machines."

Bill Butterfield, EVP and Chief Technology Officer, and Gary Kilbourne, Global VP Application Engineering were the keynote speakers sharing Xerium's latest technology in forming fabrics, press felts, and roll covers.

The technical presentations addressed:

  • New TransForm forming fabrics, which combine enhanced sheet quality, improved stability, maximum dewatering performance and longest life potential due to its unique structure and proprietary polymer technology
  • Xerium’s new AnalytiX approach to full machine optimization
  • New designs of Formsoft tissue forming fabric technology
  • New triple layer single-base press felt technology, in both endless and seamed versions
  • New tissue seam felt technology
  • QS - quick saturation and Booster technology which greatly improve startup on modern press sections
  • Blue Diamond polyurethane roll cover engineered specially for paperboard and packaging
  • And, EnerSoft TS polyurethane cover which delivers superior performance on demanding tissue machines

Numerous success stories were shared of how Xerium differentiates itself from other machine clothing and roll cover suppliers by helping customers overcome industry challenges of today, proving that major improvements in machine performance and profitability are achievable without spending millions of dollars.

Since it came online in 2015, Xerium has significantly increased its competitive position in Asia with the Kunshan plant— first with press felt production and now finishing the most modern forming fabric technology from this same world-class facility.

ABOUT XERIUM TECHNOLOGIES

Xerium Technologies, Inc. (XRM) is a leading global provider of industrial consumable products and services. Xerium, 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 28 manufacturing facilities in 13 countries around the world, Xerium has approximately 2,950 employees.

Source: Xerium Technologies, Inc.

Published in Asian News

Xerium Technologies, Inc. (NYSE: XRM), a leading global provider of industrial consumable products and services, recently celebrated the shipment of its 1000th Huycon process belt from its plant in Gloggnitz, Austria.

Xerium’s Huycon portfolio of high-performance process belts for the Nonwoven industry continues to deliver broad success on some of the most demanding spunmelt/meltblown production lines in the world.

2017 06 29 085637Xerium Celebrates Shipment of 1000th Huycon Process Belt for Nonwoven Fabrics Production from Gloggnitz, Austria Facility (Photo: Business Wire)

“Huycon process belt technology has steadily built a reputation for quality and reliability among nonwoven producers,” said Bill Butterfield, EVP and CTO of Xerium. “We are extremely proud to celebrate the shipment of our one thousandth Huycon belt from the Gloggnitz Plant. Huycon is now the preferred technology on some of the world’s newest and most advanced nonwoven machines. Now that we have developed an innovative untreated Huycon belt design for high demanding applications, we are excited to see new performance reports coming in from all over the world. Our total product range of belts, roll technology, wire mesh, and SMART Technology are the best in the industry.”

The Huycon product line offers tailor-made solutions for all kinds of Nonwoven spunbond/meltblown production processes and materials like PP, PE, PET, BiCo and other newer polymers, running at speeds over 1000 meters per minute. Sophisticated weave structures combined with specific surface treatments guarantees maximum production efficiencies and excellent web properties.

ABOUT XERIUM TECHNOLOGIES

Xerium Technologies, Inc. (XRM) is a leading global provider of industrial consumable products and services. Xerium, 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 28 manufacturing facilities in 13 countries around the world, Xerium has approximately 2,950 employees.

Source: Xerium Technologies, Inc.

Published in European News

Xerium Technologies, Inc. (NYSE: XRM) (“Xerium” or the “Company”), a leading global provider of industrial consumable products and services, has just announced the grant of a restricted stock unit award of up to 600,000 shares of common stock to Mr. Mark Staton under an Inducement Restricted Stock Unit Award Agreement. In addition, the Company filed with the SEC today a Form S-8 registering the shares underlying the award. The award was offered as an inducement to Mr. Staton in connection with his commencement of employment with the Company as its President and Chief Executive Officer. The award and the Inducement Restricted Stock Unit Award Agreement were approved by the Company’s Compensation Committee of the Board of Directors in reliance on the employment inducement award exception to New York Stock Exchange Listing Rule 303A.08, which requires the public announcement of such inducement awards.

2013 Xerium Logo CMYK 300dpiThe award will vest on October 28, 2020 (“vesting date”) provided Mr. Staton has remained continuously employed with the Company through that date. The number of shares that will vest and be payable to Mr. Staton will depend on the number of shares earned between Mr. Staton’s hire date, April 28, 2017, and the vesting date (the “opportunity period”). Shares will be earned under the award based on whether the Company’s volume weighted 20-day average stock price (“average stock price”) achieves certain pre-established levels within various time periods during the opportunity period and during which the corresponding 20-day average daily dollar trading volume of Xerium common stock on the NYSE equals or exceeds $2,800,000 (“volume minimum”). For a more complete understanding of the various average stock prices and the time periods within which Mr. Staton can earn shares under this award, please refer to the Special Incentive Matrix on Exhibit A to his employment agreement, which is filed as Exhibit 10.1 to the Company’s Form 8-K filed with the SEC on May 1, 2017. Mr. Staton can earn the maximum number of shares subject to the award if the average stock price reaches $20.00 less than 18 months after his hire date.

If Xerium experiences a Change in Control (as defined in the Company’s 2010 Equity Incentive Plan), the number of shares of common stock earned under this award will be determined based upon the stock price paid or implied in such Change in Control transaction. Those shares would be issued to Mr. Staton immediately prior to the consummation of the transaction. If Mr. Staton ceases to be employed with the Company prior to the vesting date, the award will be forfeited, except that if Mr. Staton’s employment is terminated without Cause or Mr. Staton terminates his employment for Good Reason (as those terms are defined in his employment agreement), he will be entitled to those shares earned through the date of termination and for a period of six-months thereafter.

The award is being made outside the Company’s 2010 Equity Incentive Plan but will generally be construed and administered consistent with that Plan.

ABOUT XERIUM TECHNOLOGIES

Xerium Technologies, Inc. (XRM) is a leading global provider of industrial consumable products and services. Xerium, 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 28 manufacturing facilities in 13 countries around the world, Xerium has approximately 2,950 employees.

Published in financial News

Huycon Forming Belts Selected for New Reicofil 4 Pilot Line

Xerium Technologies, Inc. (NYSE: XRM), a leading global provider of industrial consumable products and services, was recently presented an award for Participating Partner during the open house for The Nonwovens Institute (NWI) at North Carolina State University in Raleigh.

2017 06 02 075254Randy Woodson - Chancellor N.C. State University (L), John Schauer - Global Product Manager - Nonwovens, Xerium (R) (Photo: Business Wire)The award was presented by N.C. State Chancellor Randy Woodson to Xerium’s John Schauer, Global Product Manager - Nonwovens.

The May 22nd event and ribbon-cutting highlighted the NWI’s commissioning of its new world-class, 1 meter wide, Reicofil 4 bicomponent spunbond pilot machine.

Additionally, as a leading technical supplier of advanced forming belts for the global nonwoven fabric manufacturing industry, Xerium was also selected as supplier of choice for this new state-of-the-art pilot machine. The new machine will startup with Xerium’s Huycon line of products for spunmelt/meltblown production. In addition, Xerium will continue the advanced development of the Huycon forming belts portfolio utilizing the NWI’s vast research and development assets.

“We are truly honored to be such a close partner with The Nonwovens Institute”, said Bill Butterfield, EVP and CTO of Xerium. “We are also very proud to have been chosen as supplier of choice to run on the world’s newest and most advanced nonwoven pilot machine, and look forward to additional technical advancements from this partnership. This project would not have been possible without the guidance and leadership of Dr. Behnam Pourdeyhimi, Executive Director of The Nonwovens Institute, and I’d like to thank him publically for his support.”

The new Recofil R4 line consists of; Hills’ bicomponent and monofilament die packs, two unwinders, a thermobonding calendar from Andritz, two Perfojet hydroentanglement units, a kiss roll, through-air dryer and A.Celli winder and slitter.

ABOUT XERIUM TECHNOLOGIES

Xerium Technologies, Inc. (XRM) is a leading global provider of industrial consumable products and services. Xerium, 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 28 manufacturing facilities in 13 countries around the world, Xerium has approximately 2,950 employees.

Source: Xerium Technologies, Inc.

Published in North American News

Xerium Technologies, Inc. (NYSE: XRM), a leading global provider of industrial consumable products and services, today announced that the Company was recently awarded orders for machine clothing and rolls technology for Fibria’s new pulp machine at the Tres Lagoas mill in Brazil. The new machine is scheduled to go online in Q3/2017, adding 1.95 million tons of market pulp to Fibria’s annual production.

xerium logo large“We are delighted to be one of the suppliers for Fibria’s new pulp machine at Horizon 2 Project, in Tres Lagoas (Mato Grosso do Sul state, Brazil),” said Eduardo Fracasso, President of Xerium Latin America. “We are very excited to participate in the commissioning of this new technology machine which will utilize some of Xerium’s most innovative press felts, conveyors belts and roll covers.”

The growing market pulp segment is a strategic target for Xerium, whereas the Company has developed specific machine clothing and rolls products designed specifically to support the demanding water handling requirements of these newer machine configurations, and deliver higher production output with lower energy consumption.

For this new machine, Xerium will be supplying ProSeam XT seam felts and DryTrans ND conveyor belts. Additionally, the Company will be supplying AquaWell IIS, VersaTec, and Everguard roll cover technology.

“We look forward to partnering closely with the Fibria team to help ensure an optimum start-up with maximum pulp product quality, and the highest overall machine efficiency on the Horizon 2 Project, “ adds Fracasso.

ABOUT FIBRIA

The world leader in eucalyptus pulp production, Fibria strives to meet the growing global demand for forestry products in a sustainable manner. With annual production capacity of 5.3 million tons of pulp, it has industrial units in Aracruz (Espírito Santo), Jacareí (São Paulo) and Três Lagoas (Mato Grosso do Sul), as well as in Eunápolis (Bahia), where it operates Veracel in a joint operation with Stora Enso. Fibria has 969,000 hectares of forests, with 568,000 hectares of planted forests, 338,000 hectares of environmental preservation and conservation areas and 63,000 hectares destined for other uses. The pulp produced by Fibria is exported to more than 40 countries. In May 2015, Fibria announced the expansion of its Três Lagoas Unit, which will receive a new line with annual pulp production capacity of 1.95 million tons and is slated for startup in the fourth quarter of 2017. Learn more at www.fibria.com.br

ABOUT XERIUM TECHNOLOGIES

Xerium Technologies, Inc. (XRM) is a leading global provider of industrial consumable products and services. Xerium, 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 28 manufacturing facilities in 13 countries around the world, Xerium has approximately 2,950 employees.

Source: Xerium Technologies, Inc.

Published in South American News

Xerium Technologies, Inc. (NYSE: XRM), a leading global provider of industrial consumable products and services, announced today that Mr. Philipp Salmannshofer, Press Optimization & Application Manager for EMEA, will present a technical paper titled “Energy Savings from Advances in Tissue Suction Pressure Roll Venting” at Tissue World Milan on April 12, 2017.

Mr. Salmannshofer’s paper will focus on Xerium’s innovative and recently patented roll cover venting technology called EnerVentTM. This new roll cover is enabling tissuemakers to significantly reduce energy consumption while optimizing production costs and enhancing end-product quality.

2017 04 05 082517Mr. Salmannshofer has held a number of Application Engineering positions during his more than 10 years at Huyck.Wangner / Xerium in both press felt and roll cover applications.

With an extensive background in press optimization, Mr. Salmannshofer is skilled in analyzing conditions and identifying opportunities for improved performance. Utilizing proprietary systems to simulate machine operation, Mr. Salmannshofer can evaluate machine configurations and production variables to quickly understand how to maximize performance and achieve the greatest potential for improved quality, machine speeds, and reduced operating costs.

During his session, Mr. Salmannshofer will review several case studies highlighting this new technology.

“As global tissuemakers face increasing demands for higher efficiency, improved tissue sheet quality, and reduced energy consumption, our engineering team responded by developing the highly successful EnerVent concept to help them achieve their goals,” said Bill Butterfield, the Company’s EVP & CTO.

“Speeds continue to increase as do the requirements for roll covers and machine clothing to handle the high water loads on modern tissue machines. Our customers have been very pleased to experience a new-concept roll cover technology that is performing at a very high level on these very demanding positions. Unlike conventional covers, EnerVent is uniquely engineered with various combinations of drilled and grooved patterns that prevent problematic degradation of performance during the cover’s running life,” said Butterfield.

The presentation will not only highlight EnerVent technology, but also Xerium’s unique RezolveTM machine simulation system. Rezolve combines sophisticated predictive analysis with real-time process monitoring to provide tissuemakers with innovative decision-making tools to significantly enhance machine performance while minimizing downtime and cost-per-ton.

“The Rezolve system utilizes hundreds of variables on a paper machine to develop fact-based technical recommendations on clothing and roll cover technology, rather than relying merely on subjective opinions. Ultimately, our technologies create customized solutions for each machine, delivering documented improved machine performance, while also supporting sustainability and reductions in energy, fiber and specialty chemicals,” said Butterfield.

Learn more about Mr. Salmannshofer’s session at:
http://www.tissueworld.com/milan/en-us/philippsalmannshofer

Learn more about EnerVent, and watch the video at:
http://www.xerium.com/markets-products/pulp-paper-tissue/roll-covers/

ABOUT XERIUM TECHNOLOGIES

Xerium Technologies, Inc. (XRM) is a leading global manufacturer and supplier of consumable products used primarily in the production of containerboard, tissue, consumer packaging, pulp and paper. In addition, the Company also services nonwoven fabric manufacturers, building products producers, and other specialty industrial sectors. The Company’s products, machine clothing and roll covers, are installed on machines and perform critical roles in the manufacturing process by which raw materials are converted into finished products. The Company employs a broad portfolio of patented and proprietary product and manufacturing technologies, as well as extensive industry experience, to provide customers with tailored solutions designed to optimize the performance of their equipment and reduce the costs of their operations. XRM is a global enterprise selling to customers in 63 countries, with 28 manufacturing facilities in 13 countries and approximately 2,950 employees.

Published in European News

Xerium Technologies, Inc. (NYSE: XRM), a leading global provider of industrial consumable products and services, today announced that it recently shipped its first forming fabric from the Company’s Kunshan, China, machine clothing plant.

“We are extremely excited to now be producing world-class forming fabrics for our customers here in China and the greater Asia-Pacific market,” said Bob Burke, President of Xerium Asia. “We are very proud of the entire team in Kunshan. Their dedication and hard work helped pave the way for Xerium to now be a local producer of forming fabrics in addition to press felts for the Asia-Pacific region from the new Kunshan plant. The technology transfer process from our Xerium Germany team has been extremely successful and we look forward to producing our newly launched high-performance TransFormTM portfolio in the near future.”

Xerium’s Kunshan plant is located in the heart of the Yangtze River papermaking region of China at the very center of the largest and fastest growing papermaking region in the world. Xerium has significantly increased its competitive position with this plant, first with press felt production, and is now closely partnered with customers in China and the rest of Asia.

2017 03 27 154002Xerium's Kunshan Team Celebrates Shipment of First Forming Fabric (Photo: Business Wire)

The forming fabric on a papermaking-type machine is a continuous belt, or multiple belts on some machines, made of specially engineered synthetic mesh upon which various grades of fibrous products are formed. Forming fabrics essentially act as a high-tech filter media separating the fiber from water. Highly engineered weave patterns and multiple layering of modern forming fabrics are specially designed to meet stringent requirements for mechanical stability while running on the machine: resistance to abrasion, controlled water drainage rates, fiber retention, and overall quality of the paperboard, tissue, or paper being produced. Small differences in forming fabrics can be the difference between a machine running effectively, or having downtime due to inferior performance.

“We are delighted to celebrate yet another important milestone with the expansion of the Kunshan plant that is now producing our industry-leading forming fabric technology. We have a strong Lean Six Sigma certified team leading the plant utilizing the latest product designs, best materials, and most modern manufacturing processes in the world,” said Mr. Harold Bevis, President and Chief Executive Officer of Xerium. “Customers have really welcomed Kunshan as the new local source of high-value press felts when we opened it in 2015. Now we can deliver the most modern forming fabric technology from this same facility, Xerium is locally positioned to deliver the most modern machine clothing products to the largest machines in the world,” adds Bevis.

ABOUT XERIUM TECHNOLOGIES

Xerium Technologies, Inc. (XRM) is a leading global manufacturer and supplier of consumable products used primarily in the production of containerboard, tissue, consumer packaging, pulp and paper. In addition, the Company also services nonwoven fabric manufacturers, building products producers, and other specialty industrial sectors. The Company’s products, machine clothing and roll covers, are installed on machines and perform critical roles in the manufacturing process by which raw materials are converted into finished products. The Company employs a broad portfolio of patented and proprietary product and manufacturing technologies, as well as extensive industry experience, to provide customers with tailored solutions designed to optimize the performance of their equipment and reduce the costs of their operations. XRM is a global enterprise selling to customers in 63 countries, with 28 manufacturing facilities in 13 countries and approximately 2,950 employees.

Published in Asian News

Customers Saving Hundreds of Thousands of Dollars Annually in Reduced Energy Consumption and Improved Machine Output

2013 Xerium Logo CMYK 300dpiXerium Technologies, Inc. (NYSE: XRM), a leading producer of fabrics and roll covers used in the production of paper and packaging, nonwovens, and other industrial manufacturing processes, announced today that the US Patent and Trademark Office (USPTO) has granted patent number 9,488,217 for its EnerVent roll cover venting technology.

First introduced in 2014, EnerVent’s unique technology is proven to reduce energy consumption, improve drying rates and increase production output for machines producing tissue, paperboard and packaging, and graphical papers.

“Conventional roll cover venting products feature narrow grooves that are inherently ineffective and become even more ineffective with age, with softer cover materials, or under higher loads,” said Bill Butterfield, EVP and CTO of Xerium. “This inherent narrowing causes the bottom portion of the void volume to be unavailable thereby preventing the grooves to remove water effectively. This tendency increases in softer roll covers, and cover swelling can accelerate the effect leading to significant efficiency loss in water removal.”

Patented EnerVent Roll Grooving Technology Saving Customers $ Millions! from Xerium on Vimeo.

Now patented, EnerVent is engineered with wider grooves and shallower depths creating greater groove wall stability and void volume longevity. EnerVent covers remain effective under load, with softer covers, and throughout the cover life, creating optimal running conditions. Additionally, this technology is available in rubber and polyurethane covers, supplied only by Xerium.

“Obtaining this latest patent represents our ongoing strategic focus of being the technology leader in our markets and creating documented value for our customers. EnerVent technology is creating benefits approaching, or in excess of, $1 million dollars in energy savings and production gains for several customers,” adds Butterfield.

About Xerium Technologies, Inc.:

Xerium is a leading producer of fabrics and roll covers used in the production of paper and packaging, nonwovens, and other industrial manufacturing processes. Xerium’s technology portfolio also includes integrated machine monitoring and automation applications that analyze and deliver real-time machine performance data. With a breadth of patented and proprietary products and services, Xerium provides customers with tailored solutions all designed to reduce their operational costs and optimize their machine’s performance. Xerium is headquartered in Youngsville, NC and has 28 manufacturing facilities in 13 countries with approximately 2,900 employees.

Published in European News
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