Xerium Technologies Files for Chapter 11

The industrial textiles manufacturer Xerium Technologies Inc. has filed for Chapter 11 bankruptcy protection in a Delaware court. The bankruptcy filing was under a pre-arranged deal with its lenders in order to cut debt by  about $150 million. The company has stated that it has suffered in the economy because their operations are dependent on the trends in the paper production industry, which have slowed down because of advertising and packaging changes.

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