Hardinge Inc. Added to Russell Stock Indices
28 Junho 2007 - 6:14PM
PR Newswire (US)
ELMIRA, N.Y., June 28 /PRNewswire-FirstCall/ -- Hardinge Inc.
(NASDAQ:HDNG), a leading international provider of advanced
material-cutting solutions, today announced that the company's
common stock was selected for inclusion in both the Russell 2000(R)
and Russell 3000(R) indices. Hardinge's inclusion became effective
on June 22 when the Russell Investment Group reconstituted its
comprehensive set of U.S. and global equity indices. "We are
honored to be included in these widely followed and respected
indices, and to receive the elevated investor awareness which
results from being added," said J. Patrick Ervin, Chairman,
President and Chief Executive Officer. "Our inclusion reflects
Hardinge's strong growth in market capitalization, coupled with a
successful follow-on stock offering which generated nearly $56
million of new capital." Russell produces a family of U.S. equity
indices which are market cap- weighted and include only common
stocks incorporated in the United States and its territories. Each
year, on the last trading day in May, Russell ranks the 4,000
largest U.S. stocks by market capitalization and then adjusts for
corporate cross-ownership and large private holdings. The Russell
3000 Index measures the performance of the 3,000 largest U.S.
companies, based on total market capitalization. The Russell 2000
Index is constructed to provide a comprehensive and unbiased
small-cap barometer, and includes the smallest 2000 securities in
the Russell 3000. Hardinge is also included in the Russell Microcap
Index, which includes the smallest 1,000 securities in the
small-cap Russell 2000 Index, plus the next 1,000 securities.
Hardinge has a very diverse international customer base and serves
a wide variety of end-user markets. Along with metalworking
manufacturers which make parts for a variety of industries, its
customers include a wide range of end users in the aerospace,
agricultural, transportation, basic consumer goods, communications
and electronics, construction, defense, energy, pharmaceutical and
medical equipment, and recreation industries, among others. The
company has manufacturing operations in the United States,
Switzerland, Taiwan and China. Hardinge's common stock trades on
NASDAQ under the symbol, "HDNG." For more information, please visit
http://www.hardinge.com/. Contact: Charles R. Trego, Jr., Senior
V.P. / C.F.O. (607) 378-4202 DATASOURCE: Hardinge Inc. CONTACT:
Charles R. Trego, Jr., Senior V.P. - C.F.O. of Hardinge Inc.,
+1-607-378-4202 Web site: http://www.hardinge.com/
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