|View printer-friendly version|
|Photo Release -- Xerium Announces New Plant in Corlu, Turkey|
A photo accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=27164
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 largest 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 is honored to be the first major global competitor to build a plant in the region and proud of its relationship with
"Xerium is repositioning its business for the future by executing its dual-pronged long term strategy of achieving Commercial Success and Cost Leadership," continued Mr. Bevis. "Commercial Success is about being #1 or #2 in each of its markets and being at least on par with the marketshare leaders in each category. Xerium is committed to growing with the market leading customers globally. Currently, we have 27 specific growth initiatives to implement this strategy and this new plant in Turkey is one of those initiatives. The company's goal is to target specific customers and specific machines where the company's value-added offerings are a natural fit."
Commenting on Cost Leadership, Mr. Bevis said "Xerium is equally committed to achieving Cost Leadership in its operational structure. Continuous improvement and increased value are a given in the industries the company serves and it is imperative that the company be set up correctly to deliver against that expectation. The company has 9 specific programs to achieve this objective. Cost Leadership is more than just closing old, high-cost plants with old equipment that are in awkward predicaments given forward expectations. It is more than just 'cost out.' We are also making sure that we have the right set-up to deliver best value and continuous improvement.
"Xerium's decision to build a greenfield rolls and mechanical service plant in Turkey is a manifestation of both elements of the company's long-term strategy - Commercial Success and Cost Leadership." said Bevis. "Xerium is excited and honored to commit its money, time, people, patents, and 202 years of global trade secrets to help customers in Turkey and Southeast Europe win in their markets."
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 plans to establish a new facility in Turkey may not materialize, may cost more or may be delayed longer than we anticipate; (2) once operational, the facility may not provide the benefits we anticipate; and (3) 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-Q for the quarters ended
The photo is also available via AP PhotoExpress.
CONTACT: Phillip B. Kennedy Investor Relations 919-526-1444 IR@xerium.com