Hardinge Inc. Joins Russell 2000 Index
Hardinge Inc. Joins Russell 2000® Index
Hardinge Inc. (NASDAQ:HDNG), a leading international provider of advanced metal-cutting solutions, announced today the Company has been added to the Russell 2000® Index.
Richard L. Simons, Chairman, President and Chief Executive Officer commented, “We expect our inclusion in the Russell 2000® will help to create greater visibility for Hardinge in the investment community. We welcome the opportunity to educate a broader audience on our strategy to leverage our strong brands to capture greater global market share, while we focus on driving cash generation.”
The annual reconstitution of the Russell 3000® captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. The largest 1,000 companies in this ranking comprise the Russell 1000® and the next 2,000 companies become the Russell 2000®, each as a subset.
Hardinge is a global designer, manufacturer and distributor of machine tools, specializing in SUPER-PRECISION® and precision CNC Lathes, high performance Machining Centers, high-end cylindrical and jig Grinding Machines, and technologically advanced Workholding & Rotary Products. The Company’s products are distributed to most of the industrialized markets around the world with approximately 75% of its sales outside of North America. Hardinge has a very diverse international customer base and serves a wide variety of end-user markets. This customer base includes metalworking manufacturers which make parts for a variety of industries, as well as 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 Switzerland, Taiwan, the United States, China and the United Kingdom. Hardinge’s common stock trades on the NASDAQ Global Select Market under the symbol, “HDNG.”
For more information, please visit http://www.hardinge.com.
Edward J. Gaio, Chief Financial Officer
Kei Advisors LLC
Deborah K. Pawlowski, 716-843-3908