YOUNGSVILLE, N.C.--(BUSINESS WIRE)--Xerium Technologies, Inc. (NYSE:XRM), a leading global provider of industrial consumable products and services, today announced a plan to exchange $480 million aggregate principal amount of its outstanding 9.500% Senior Secured Notes due 2021 for a like principal amount of 9.500% Senior Secured Notes due 2021 that have been registered under the Securities Act of 1933, as amended. The new notes are identical in all material respects to the outstanding old notes, except that the exchange notes will be registered under the Securities Act, generally will not be subject to transfer restriction or be entitled to registration rights or related provisions relating to additional interest applicable to the old notes and will bear a different CUSIP or ISIN number from the old notes. Like the old notes, the new notes are guaranteed on a senior secured basis by each of the Company's direct and indirect wholly-owned subsidiaries (other than those that are securitization subsidiaries or immaterial subsidiaries) existing as of the issue date of the old notes. The Company will not receive any proceeds upon the consummation of the exchange offer. While expected to close in January, there can be no assurance that all holders of the notes will exchange their notes as described above, or at all. Completion of the exchange offer is subject to documentation and customary closing conditions.

ABOUT XERIUM TECHNOLOGIES, INC.

Xerium is a leading global provider of industrial consumable products and services. Xerium, which operates around the world under a variety of brand names, utilizes a broad portfolio of patented and proprietary technologies to provide customers with tailored solutions and products integral to production, all designed to optimize performance and reduce operational costs. With 28 manufacturing facilities in 13 countries around the world, Xerium has approximately 2,900 employees.