Xerium Technologies, Inc.: Update following acquisition announcement by Andritz AG
Our credit view of Xerium (B2 stable) reflecting the announced acquisition by Andritz AG (unrated).Xerium Technologies is a provider of industrial consumable products and services including machine clothing, roll coverings, roll repair and mechanical services. The company markets its products through brands that include Huyck Wangner, Weavexx, Stowe Woodward, Mount Hope, Robec, IRGA, Xibe/Stowe and JJ Plank. The company has two main business segments: Machine Clothing, which includes various types of industrial textiles used on paper-making machines and other industrial applications; and Roll Covers, which manufactures roll covers, refurbishes previously installed roll covers, provides mechanical services for the internal mechanisms of rolls used on paper-making machines and manufactures spreader rolls.
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