Mr. Harold Bevis, President and CEO of Xerium, said: “Competing and winning in China and throughout Asia is central to Xerium’s corporate repositioning. Xerium’s legacy markets in North American and European newsprint, printing and writing are all under pressure. These market segments are going through permanent correction. Several years ago, the Board of Xerium decided to tackle this situation head-on and reposition its assets and commercial profile directly into growth markets globally.
Xerium completed a 2 year, multi-million dollar construction project to build and equip a brand-new press felt plant in Kunshan, China. This greenfield plant is located in the heart of the Yangtze River paper-making region, which is at the center of the largest paper-making region in the world - China. It took over 2 years to design, build, equip, and commission. Until this new plant began production, Xerium served this region mainly as an exporter of products made in Europe. Xerium has significantly increased its competitive position with this plant and will now be able to more closely partner with customers in China and the rest of the world.
Xerium also completed a 2 year, multi-million dollar investment program to completely renovate its rolls and mechanical service plant in Changzhou, China. This plant is located in the Yangtze River paper-making region. Until this renovation was completed, Xerium had served this region for many decades by exporting high-end working rolls from Europe. Xerium has now transferred all of its technology to this plant – SMART® Roll production cell, spreader roll production cell, polyurethane production cell, suction box production cell, upgraded extrusion and drilling equipment. The plant can now produce all of Xerium’s designs.
Moved and reincorporated Xerium Asia headquarters into the Shanghai Free Trade Zone. This special Chinese government approval allows Xerium to import/export at the lowest possible cost, expedite customs processing, provide shorter lead times for materials transfer, enables maximum leverage of working capital for Xerium across Asia, and receive improved tax treatment as a local Chinese business entity. The entity is now in place.
Moved its Asia business leadership from the United States and Europe to China. The key top personnel moves were: moved President and CFO positions from the US to Shanghai, moved Sales leadership from Europe and Australia to Shanghai, moved technical leadership from Europe to Shanghai. All of these personnel moves are complete.
Xerium Technologies, Inc. is a leading global provider of industrial consumable products and services.
