Exhibit 99.2
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| Contact: | | Jane W. McCahon |
| | Conway Communications |
| | 978-443-0160 |
| | janewmccahon@earthlink.net |
Xerium Technologies Announces Management Appointments
YOUNGSVILLE, N.C.—February 11, 2008—Xerium Technologies, Inc. (NYSE: XRM), a leading global manufacturer of clothing and roll covers used primarily in the paper production process, today announced the appointments of David Pretty to President – Xerium North America, Peter Williamson to President – Xerium Europe and Joan “John” Badrinas Ardevol to Chief Technology Officer.
Mr. Pretty has served as President-Weavexx, the Company’s North American clothing operation, since December 2005, and prior to that held various sales, marketing and technical service positions with the Company and its predecessors since 1987. As President-Xerium North America, he assumes responsibility for the Company’s North American roll covers operations, in addition to the clothing operations in that region.
Mr. Williamson has served as the Company’s Managing Director – Stowe Woodward Europe, with responsibility for Xerium’s European roll covers business since joining the Company in March 2006. Mr. Williamson had previously served as President of the product area engine group at Trelleborg AB and earlier as President – Metzler Automotive Hose Systems. As President – Xerium Europe, he will be responsible for the Company’s European clothing operations, in addition to the roll covers operations in Europe.
John Badrinas, who had been the Company’s President – Clothing Europe since joining Xerium in July 2006, will now be responsible for the Company’s research and development activities in the new role of Chief Technology Officer. Prior to joining Xerium, Mr. Badrinas held various technology leadership positions at Trelleborg AB and Pendelastica SA.
Doug Milner, who had been President—Stowe Woodward Rolls Worldwide since joining the Company in February 2004, has left Xerium to pursue other opportunities. The Company expresses its thanks to Doug Milner for his service to Xerium over the last four years.
ABOUT XERIUM TECHNOLOGIES
Xerium Technologies Inc. (NYSE: XRM) is a leading global manufacturer and supplier of two types of consumable products used primarily in the production of paper: clothing and roll covers. The company, 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 35 manufacturing facilities in 15 countries around the world, Xerium has approximately 3,800 employees.
FORWARD LOOKING STATEMENTS
This press release may contain forward-looking statements that are not based on historical fact, including without limitation, statements containing the words “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “indicates,” “suggests” and similar expressions. Because these forward-looking statements involve known and unknown risks and uncertainties, there are important factors that could cause actual results, events or developments to differ materially from those expressed or implied by these forward-looking statements. Such factors include, but are not limited to: (i) adverse changes in general economic or market conditions, including without limitation those affecting the paper industry; (ii) labor unrest; (iii) currency and interest rate fluctuations; (iv) competitive factors, including but not limited to pricing pressures and new product introductions; (v) the relative and varying rates of product price and component cost changes and the volume and mixture of product and service revenues; (vi) transitions to new products, the uncertainty of customer acceptance of new product offerings and technological and market change; (vii) the lack of any requirement to make dividend payments on our common stock at any particular level or at all; (viii) limitations imposed by our credit facility on the amount of dividends we are permitted to pay; (ix) our high degree of leverage and significant debt service obligations, together with our dividend policy, may cause us to have insufficient cash to fund growth and unexpected cash needs; (x) our credit facility contains restrictive covenants that will require us to improve our financial performance over time to remain in compliance therewith; (xi) war or acts of terrorism in any country in which we conduct business; (xii) changes in U.S. or foreign government policies, laws, regulations and practices, including without limitation those regarding the repatriation of funds and taxes; and (xiii) those other risks described under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K/A for period ended December 31, 2006 filed with the Securities and Exchange Commission and subsequent SEC filings. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The Company disclaims any obligation to update any such forward-looking statements after the date of this release.
