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As of 8:04 PM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).

xerium technologies inc (XRM) Snapshot

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52 Week High
03/5/14 - $17.99
52 Week Low
09/23/13 - $10.61
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xerium technologies inc (XRM) Details

Xerium Technologies, Inc. manufactures and supplies consumable products primarily for the production of paper. The company operates in two segments, Machine Clothing and Roll Covers. The Machine Clothing segment provides various types of industrial textiles used on paper-making machines and other industrial applications. It offers forming fabrics that are used at the beginning of paper-making machines; press felts for carrying the paper sheet through a series of press rolls that mechanically press water from the sheet under high pressure; and dryer fabrics to transport the paper sheet through the drying section of paper-making machines. This segment also provides other fabrics, which are used in other industrial applications, such as pulp, non-woven textiles, fiber cement, tannery sludge dewatering, and textiles manufacturing; and auto-joining equipment used in machine clothing production. The Roll Covers segment manufactures, refurbishes, and replaces roll covers, including suction rolls, lump breaker rolls, coater rolls, sizing rolls, calendar rolls, and various purpose conveying rolls used in paper-making machines. This segment also offers refurbishment services for previously installed roll covers; and mechanical maintenance and repair services for the internal mechanisms of rolls, as well as manufactures and repairs spreader rolls. The company markets its products under the Huyck Wangner, Weavexx, Stowe Woodward, Mount Hope, Robec, and Xibe brands to the paper industry’s producers through its direct sales force worldwide. Xerium Technologies, Inc. was founded in 1999 and is headquartered in Youngsville, North Carolina.

3,200 Employees
Last Reported Date: 03/4/14
Founded in 1999

xerium technologies inc (XRM) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $665.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $340.0K
President of Xerium North America and Europe
Total Annual Compensation: $405.0K
President of Xerium - South America
Total Annual Compensation: $380.7K
Compensation as of Fiscal Year 2013.

xerium technologies inc (XRM) Key Developments

Xerium Technologies Inc. Enters into the Second Amendment to Credit and Guaranty Agreement

On August 18, 2014, Xerium Technologies Inc. entered into the Second Amendment to Credit and Guaranty Agreement amending the Credit and Guaranty Agreement among the company, certain direct and indirect subsidiaries of the company, and Jefferies Finance LLC, in its capacity as an additional lender and as the Administrative Agent. The Amendment formally increases the aggregate amount of term loans borrowed under the Credit Facility by an additional $30 million. The company is using the additional borrowings to settle its previously disclosed Brazilian tax assessment, to settle un-assessed amounts associated with tax years 2011 to 2014 and to pay any fees and expenses incurred by the company in connection with the Amendment. The Amendment makes no changes to the repayment and other previously disclosed terms of the Credit Facility.

Xerium Technologies Inc. Announces New Rolls and Mechanical Services Facility in Corlu, Turkey

Xerium Technologies Inc. announced a new rolls and mechanical services facility located in Çorlu, Turkey. The facility is under construction and the equipment is already on hand. It will be expected to be in production first quarter of 2015. From this geographic location, Xerium will provide its full suite of patented performance-enhancing roll solutions to customers in the surrounding region. Xerium will perform roll grinding, roll recovering and mechanical services on site. Xerium is also increasing its field sales and service staff for the region for machine clothing, roll services, mechanical services and machine automation through its SMART(R) Roll sensor solutions. Xerium's facility will be the first major rolls and service facility established in Turkey, by any of the industry's major global suppliers. From this location, Xerium will be able to provide regional customers with dramatically quicker and more cost effective service. Importantly, these products and services will be delivered through a local workforce familiar and respectful of local customs. The plant will be co-located on the grounds of Modern Karton, one of the large and most integrated producers in the region. The required investment and startup costs of this new plant are included within the company's previous guidance for spending in 2014.

Xerium Introduces EnerVent Roll Cover Venting Technology for Tissue Machines

Xerium Technologies Inc. launched EnerVent roll venting technology for tissue machines. EnerVent, which is patent pending, utilizes an innovative combination of roll grooving geometry which provides increased nip dewatering with softer, wider nips. It is specially engineered for rubber covers applied to tissue suction pressure roll positions and is already reducing energy costs and increasing machine speeds for existing tissue producers. EnerVent cover venting allows customers to utilize softer rubber cover designs such as Xtreme TS which improves overall pressure uniformity with the Yankee dryer.


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