Xerium acquires J.J. Plank Corporation

“Incorporating Spencer Johnston's and the other divisions' strengths in spreader rolls, dandy rolls and tissue embossing rolls with our existing portfolio of products is a strategically and financially compelling advancement opportunity. These product lines will strengthen our product and service offerings, add new customers to our roster, and accelerate revenue diversification. Importantly, this acquisition furthers the company's strategy of realigning its market presence and future sales opportunities by onboarding existing customer references and special-purpose manufacturing assets,” said Harold Bevis, president and CEO of Xerium Technologies.

The new addition of the product lines would add strength and diversity to Xerium's products, customers, and markets served. Through the acquisition, Xerium would expand its current product offerings and service capabilities, markets served, strengthen financial profile and grow its customer base.

 “The acquisition is expected to produce post-synergy adjusted EBITDA of $6 million, which will bolster the company's de-leveraging efforts and immediately improve Xerium's leverage ratios on a pro-forma basis,” Bevis added. (NA)

Fibre2fashion News Desk - India