July 5, 2018 – Andritz AG has signed a merger agreement to acquire Xerium Technologies Inc.
The transaction is valued at about $833 million, including net financial liabilities of about $590 million. The agreement, unanimously approved by Xerium’s board of directors is subject to the approval of the company’s shareholders and the satisfaction of customary closing conditions, including applicable regulatory approvals.
Xerium, based in Youngsville, N.C., is a global manufacturer and supplier of machine clothing and roll covers for paper, tissue and board machines, including maintenance and after-market services. Xerium employs about 2,850 people and operates more than 28 production facilities worldwide, including a site in Austria where Andritz is based.
Andritz is a leading global supplier of plants, equipment and services for hydropower stations, the pulp and paper industry, the metal working and steel industries, and for solid/liquid separation in the municipal and industrial segments.
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