Xerium Technologies (XRM) Plans European Cost Reductions

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Xerium Technologies, Inc. (NYSE: XRM) today announced that it has initiated consultation proceedings with the works council at its Huyck Wangner forming fabric facility in Reutlingen, Germany regarding a proposal to eliminate a significant number of positions in an effort to continue to address the Company’s cost structure. Due to the nature of the proceedings with the local works council, the Company is not able to provide an estimate of the anticipated restructuring expenses or costs savings at this time.

Commenting on the action, Harold Bevis, the Company’s President and Chief Executive Officer said, “This is an important element of the Company’s plan to rightsize our cost structure. Despite these anticipated workforce reductions, Huyck Wangner will continue to timely fulfill customer requirements and will maintain its leadership in producing high quality forming fabrics.”

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