The Company is continuing to reposition assets from low-growth to high-growth markets. This new project is very capital efficient in that the Company already owns the majority of the equipment that will be installed in the new Concepción plant. The remaining spend will cross 2 calendar years and is already included in the capex guidance previously given by the Company.
The facility will be state-of-the art and is expected to be fully in production 2Q 2017. From this strategic geographic location, Xerium will provide its full suite of patented, performance-enhancing roll solutions to customers in the surrounding region.
Xerium will perform roll grinding, roll recovering and mechanical services on site. Xerium is also increasing its field sales and service staff for the region for machine clothing, roll services, mechanical services and machine automation through its SMART® roll sensor solutions.
This new operation will be under the regional direction of Mr. Eduardo Fracasso, President of Latin America. The Concepción, Chile greenfield implementation will be led by Luis Vitti; Project Manager.
Xerium Technologies, Inc. is a leading global provider of industrial consumable products and services.
