"We continue to take the required steps to achieve our multi-year repositioning plan to improve our sales, Adjusted EBITDA and share price. These initiatives are well under way and we are pleased with the actions to date and the confidence restored in Xerium both internally and externally. These actions will further strengthen our global responsiveness and competitive edge. These changes require difficult decisions that affect great people but these are very necessary actions given the economic realities of the markets we serve. As with our previous restructuring efforts, we have firm plans to save as many jobs as possible under these circumstances," said Harold Bevis, Xerium's President and CEO. "We believe these actions will increase our competitiveness in South America, without sacrificing quality or our position in the market."
Xerium Technologies, Inc. is a leading global provider of industrial consumable products and services.
