Xerium Technologies, Inc., a leading global manufacturer of clothing and roll covers used primarily in the paper production process, today announced that on August 2, 2012, it received notification from the New York Stock Exchange (NYSE) that it was not in compliance with a NYSE standard for continued listing of the Company's common stock on the exchange. Specifically, the Company is considered below the continued listing criteria by the NYSE because the Company's average total market capitalization over a consecutive 30 trading day period has been less than $50 million and its most recently reported stockholders' equity was less than $50 million.

Under NYSE rules, the Company has 45 days from the date of the notice to submit a plan to the NYSE to demonstrate its ability to achieve compliance with the market capitalization listing standards within 18 months of receiving the notice. The Company intends to submit such a plan and has notified the NYSE that it intends to cure the deficiency within the prescribed timeframe. During this cure period, the Company's shares will continue to be listed and traded on the NYSE, subject to the Company's compliance with other NYSE continued listing standards.

The Company's business operations, credit agreement and Securities and Exchange Commission reporting requirements are unaffected by this notice.

Source: Xerium Technologies, Inc.

FORWARD-LOOKING STATEMENTS

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 profits; (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 endedDecember 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.

Ashland Inc. has announced the expiration, as of midnight, New York City time, on August 2, 2012 (the Expiration Time), of its previously announced cash tender offer (the Tender Offer) to purchase for cash any and all of its outstanding $650 million aggregate principal amount of 9.125% Senior Notes due 2017 (2017 Notes). According to Global Bondholder Services Corporation, the Depositary for the Offer, approximately $572 million aggregate principal amount of the 2017 Notes had been validly tendered and not validly withdrawn before the Expiration Time, representing approximately 88% of the outstanding 2017 Notes. 

Ashland Inc. also today announced the pricing of an offering of$500 million aggregate principal amount of its 4.750% Senior Notes due 2022 (2022 Notes). The 2022 Notes will be unsecured, unsubordinated obligations of Ashland and will mature onAugust 15, 2022.

Ashland intends to use the net proceeds of the 2022 Notes offering, together with available cash, to pay the consideration, accrued and unpaid interest and related fees and expenses in connection with the Tender Offer.

Settlement of the 2022 Notes offering and the Tender Offer is expected to occur on August 7, 2012, subject to customary closing conditions.

The 2022 Notes will be offered in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the Securities Act), and outside the United States pursuant to Regulation S under the Securities Act. The Notes have not been registered under the Securities Act and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements.

This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, any security, including the 2022 Notes. No offer, solicitation, or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful. 

International technology Group ANDRITZ received an order to supply a new Jetlace nonwovens production line for Precot Meridian Ltd., Coimbatore, India. The line will produce spunlace fabrics for the hygiene and medical industries and is scheduled to start up in the first quarter of 2013.

The scope of supply includes a complete ANDRITZ Perfojet Jetlace line, a unit for the production of customized fabrics with patterns and logos, as well as a high-efficiency filtration system designed for specialized fibers and fiber recycling equipment.

Precot Meridian has been present in yarn and fabric production for nearly five decades. Based on its expertise in the traditional textile market, the company decided to expand into the nonwovens sector. This order underlines the leading position of ANDRITZ as full-line supplier for spunlace nonwovens.

International technology Group ANDRITZ has successfully started up the world’s largest steel yankee for tissue production at Hengan Group Jinjiang. The PrimeDry Steel Yankee (4.9 m diameter and 6.2 m shell length) is installed in the new ANDRITZ PM15 tissue machine, and enables safe and energy-efficient machine operation. 

“We have eight ANDRITZ tissue machines in operation. PM15 with the world’s largest steel yankee for tissue is now the icing on the cake,” says Zhang Qunfu, Chief Engineer of Hengan Group. An additional ANDRITZ machine with a steel yankee will be started up later this year for Hengan, which is one of the leading tissue producers in China.

PM15 (a PrimeLineTM W6 model) has a design speed of 2,100 m/min, a width of 5.6 m, and is equipped with energy-saving components such as yankee head insulation and a re-evaporation system. ANDRITZ’s scope of supply also includes the complete stock preparation system and machine controls. The machine was started up two weeks ahead of schedule.

The ANDRITZ PULP & PAPER business area, which manufactures tissue machine components in Europe and China, is thus further strengthening its position as one of the leading suppliers of tissue machines and local services in China.

Fisher International, leading consultants to the pulp and paper industry worldwide, has named Szymon Siuda as Senior Consultant, Europe Office. The appointment reflects an increase in demand for the firm’s products and services among European paper industry suppliers and producers. It also marks the recognition of Europe’s keen interest in the burgeoning paper manufacturing market in Asia where Mr. Siuda has had significant experience.

Szymon Siuda joins Fisher with over 15 years of sales and marketing strategy experience across a broad range of paper and process industry businesses including chemical and equipment supply, paper and paperboard manufacturing, converting, consumer packaging, and Greenfield start up sectors. Mr. Siuda has a degree in Chemical Engineering and before joining Fisher International, held management positions at several multinational corporations including BASF and Raisio where he was involved in global business development and instrumental in establishing commercial enterprises in Europe, North and South America, and many parts of Asia.

Fisher International’s expanding commitment to the European paper industry as a whole is driven by a surge in demand for high-quality global market information. The firm’s flagship product, FisherSolve™, is a market intelligence tool that contains a comprehensive database describing the assets and production of every mill in the world in great detail, including those in China. “The fact that Fisher International established new offices and research assets in China last year sparked a lot of interest among suppliers who need reliable market intelligence to compete for a seat at the Asian table,” noted Stanley Okoro, Fisher International’s General Manager. “No matter what the size of a company, to be effective in such a vast market, resources must be allocated judiciously; every decision has to be made with analytic discipline and supported by data. We’re also seeing an awakening on the producer side as European paper companies brace themselves to compete with China for commodities if not markets.”

Fisher International’s clients include paper industry producers, suppliers, end users, and investors worldwide. They use FisherSolve’s comprehensive proprietary database that describes the assets and production costs of every mill in the world in great detail, powerful tools to analyze that data, and experienced industry consultants like Szymon Siuda to gain strategic insight and a competitive advantage through data-driven thinking. 

“The European paper industry is focused on the opportunities and threats that Asia represents. Serious players are investing in information to leverage their positions because that’s where they’ll get the greatest return on investment at this point,” observed Mr. Siuda reflecting, “The stakes are very high and it’s virtually impossible to recover from a miss-step resulting from unreliable or incomplete market intelligence. These are not issues that can be managed with predigested thinking and canned answers.” He continued, “The questions being asked require reliable asset data and unique, customized solutions which is why more people are turning to Fisher International. The mission for the consulting team in Europe is to make sure clients capitalize on the benefits FisherSolvedelivers so that our Asia intelligence pays dividends.”

American Forest & Paper Association (AF&PA) President and CEO Donna Harman has issued the following statement regarding the Environmental Protection Agency’s (EPA) final National Emission Standards for Hazardous Air Pollutants for the Pulp and Paper Industry, also known as the residual risk and technology review rule.

“EPA’s reaffirmation of the core elements from the 1998 maximum achievable control technologies (MACT) rule is welcome news.  Control technologies have not changed since that time, and EPA’s decision is an indication that the current rules have worked to bring pulp and paper mill emissions to an acceptable level.   

“Based on a careful review of available information, EPA rejected changes that would have no measurable public health benefit yet would have cost hundreds of millions of dollars.  EPA also retained the current emission allowances for venting that are needed for the safe operation of mill equipment and were a critical part of the original MACT.

“We remain concerned, however, with the changes to the start-up, shutdown and malfunction provisions and are still evaluating the implications for mills.”

Ecolab has announced that its Chief Financial Officer, Steven L. Fritze, will step down as CFO on October 1, 2012, and will retire at the end of this year. Fritze has been Ecolab's Chief Financial Officer since 2002.

Douglas M. Baker, Jr., Ecolab's Chairman and Chief Executive Officer also announced thatDaniel J. Schmechel will become Chief Financial Officer onOctober 1.

"Steve has been an outstanding CFO and made lasting contributions to Ecolab throughout his 32 years of service," Baker said. "During his tenure, Steve served in nearly every finance area, and under his leadership, strengthened the talent, processes and effectiveness in each to help build world-class operations and finance leaders. He has always acted as a business partner, consistently bringing excellent executive and strategic leadership to the entire management team. His dedication to the company has been the hallmark of his work, and his counsel and support is something that I have valued greatly. Steve is a terrific example of Ecolab's culture of excellence, and we are a much better company because of his contributions. We wish him every success in this next phase of his life."

"I have been incredibly fortunate to have worked for such a fine company," Fritze said. "Ecolab does good in the world, has strong values, high ethical standards and consistently wins in the marketplace. It doesn't get better than that. I am highly confident in Dan and extremely proud of the great Finance team that we have developed over the years. Together, the team is clearly capable of supporting the business going forward without missing a beat."

Schmechel, 52 years old, joined Ecolab in 1995 and has led almost every major finance area. He is currently the Executive Vice President, Finance, where he has responsibility for Tax, Treasury and the Corporate Controller functions. Prior to that, he served as SVP, Finance Services and Systems, with responsibility for Shared Services and Information Technology. Schmechel also was Senior Vice President, Global Supply Chain, on an interim basis. During his 17 year career with Ecolab, he also has had an assignment in Europe as the SVP, Business Transformation, and has served as both the Corporate Controller and Treasurer. Schmechel has an MBA from the Tuck School of Business at Dartmouth and a B.S. degree from Yale University.

"Dan is absolutely ready to help lead Ecolab as CFO," Baker said. "He has served in the critical finance areas and in Europe, and possesses excellent financial and management skills. We look forward to Dan's leadership as we continue to pursue our aggressive growth plans." 

Source: Ecolab Inc.

Verso Paper Corp. has announced that after conducting a comprehensive assessment, Verso has made the difficult decision not to reopen its paper mill in Sartell, Minnesota. Verso's decision is based on the length of time that it would take to rebuild the mill structures and systems that were destroyed in the Memorial Day fire and explosion, and the marketplace challenges that would present.

The permanent closure of the Sartell Mill will reduce Verso's annual coated groundwood capacity by 180,000 tons or approximately 20 percent, and will eliminate approximately 35,000 tons of annual supercalendered paper capacity.

Verso President and CEO David Paterson met with state and local officials earlier today to deliver the news in person. "After a thorough review of the many factors involved following the Memorial Day tragedy, we have made the very difficult decision not to reopen the Sartell Mill," Paterson said. "The mill has not been competitive for a number of years and, despite our employees' dedicated efforts since the December 2011 shutdown of two of the facility's three paper machines, our assessment indicates that it is impossible for the mill to achieve a competitive position in today's marketplace, especially after a setback of this magnitude and duration. We will work closely with local and state officials to develop options for the future use of the mill site."

"We know that the decision to permanently close the mill will have a significant impact on many people across this region, especially our Sartell Mill employees and their families," said Verso Senior Vice President for Manufacturing and Energy Lyle Fellows. "We continue to work with affected employees to help them access the resources needed to identify alternative employment opportunities."

Verso has been working with Sartell Mill customers to make necessary production transitions since the mill was idled by the Memorial Day fire and explosion. "Even in the face of sudden and challenging circumstances, our customers knew they could depend on Verso to deliver high-quality paper products and exceptional customer service," said Verso Senior Vice President of Sales, Marketing and Product Development Mike Weinhold. "Our team has worked hard to make needed shifts in production and we are meeting our customers' needs at Verso's other mills."

The mill closure will result in an aggregate pre-tax charge to earnings of approximately $114 million, which is expected to occur primarily in the third quarter of 2012. This includes approximately $19 million for severance and benefit costs; approximately $81 million in non-cash charges primarily related to the impairment of property, plant and equipment; and approximately $14 million related to other costs. The severance and other shutdown costs require the outlay of cash, which is expected to occur primarily in the third quarter of 2012. Settlement negotiations regarding this loss claim with our insurance carrier are continuing and we expect resolution in the coming months.

Costs associated with shutdown activities are based on currently available information and reflect management's best estimates; accordingly, actual cash costs and non-cash charges and their timing may differ from the projections stated above.

"The Sartell Mill has a long and proud history, and we thank all of our employees, the community and the many local and state officials who have partnered with us over the years," said Sartell Mill Manager Matt Archambeau. "It's impossible to put into words how much your support has meant to our company."

Source: Verso Paper Corp.

Forward-Looking Statements

In this press release, all statements that are not purely historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements may be identified by the words "believe," "expect," "anticipate," "project," "plan," "estimate," "intend," and similar expressions. Forward-looking statements are based on currently available business, economic, financial, and other information and reflect management's current beliefs, expectations, and views with respect to future developments and their potential effects on Verso. Actual results could vary materially depending on risks and uncertainties that may affect Verso and its business. For a discussion of such risks and uncertainties, please refer to Verso's filings with the Securities and Exchange Commission. Verso assumes no obligation to update any forward-looking statement made in this press release to reflect subsequent events or circumstances or actual outcomes.