ANN ARBOR, Mich., July 1, 2013 /PRNewswire/ -- Tecumseh Products
Company (Nasdaq: TECUA/TECUB), a leading global manufacturer of
compressors and related products, announced today that it has been
added to the Russell 3000® and small-cap
Russell 2000® Indexes when Russell Investments
reconstituted its comprehensive set of U.S. and global equity
indexes after the market closed on June 28,
2013.
Annual reconstitution of Russell's U.S. indexes captures the
4,000 largest U.S. stocks as of the end of May, ranking them by
total market capitalization. Membership in the Russell 3000,
which remains in place for one year, means automatic inclusion in
the large-cap Russell 1000® Index or the
small-cap Russell 2000® Index as well as
the appropriate growth and value style indexes. Russell
determines membership for its equity indexes primarily by
objective, market-capitalization rankings and style attributes.
"We are pleased to join the Russell family of Indices," said
Jim Connor, President and CEO.
"Our inclusion in the small-cap Russell 2000® Index will
broaden our market exposure and provide additional liquidity for
our stock."
The Russell 3000® also serves as the
U.S. component of the Russell Global Index, which Russell launched
in 2007. Russell indexes are widely used by investment
managers and institutional investors for index funds and as
benchmarks for both passive and active investment strategies.
Approximately $4.1 trillion in assets
are benchmarked to the Russell indexes. Russell calculates more
than 700,000 benchmarks daily covering approximately 98 percent of
the investable market globally, more than 80 countries and 10,000
securities. These investment tools originated from Russell's
multi-manager investment business in the early 1980s when the
company saw the need for a more objective, market-driven set of
benchmarks in order to evaluate outside investment managers.
Total returns data for the Russell 3000®
and other Russell indexes are available at
http://www.russell.com/Indexes/performance/default.asp.
Tecumseh Products Company is a global manufacturer of
hermetically sealed compressors for residential and specialty air
conditioning, household refrigerators and freezers, and commercial
refrigeration applications, including air conditioning and
refrigeration compressors, as well as condensing units, heat pumps
and complete refrigeration systems. Press releases and other
investor information can be accessed via the Investor Relations
section of Tecumseh Products Company's Website at www.tecumseh.com.
Contact:
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Janice
Stipp
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Tecumseh Products
Company
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734-585-9507
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Investor.relations@tecumseh.com
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SOURCE Tecumseh Products Company