Libbey Inc. Joins Russell 3000 Index

Jun 29, 2010, 16:30 ET from Libbey Inc.

TOLEDO, Ohio, June 29 /PRNewswire-FirstCall/ -- Libbey Inc. (NYSE Amex: LBY) was added to the broad-market Russell 3000 Index when Russell Investment Group reconstituted its comprehensive set of U.S. and global equity indexes on June 25, 2010, according to the official membership posted on  Membership in the Russell 3000, which remains in place for one year, means Libbey will automatically be included in the small-cap Russell 2000.

Commenting on the news, John F. Meier, Libbey chairman and chief executive officer stated, "We believe that Libbey's inclusion in the Russell 2000 should increase our exposure to a wider group of investors and institutions."  Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies.

Libbey Inc.:

  • is the largest manufacturer of glass tableware in the western hemisphere and one of the largest glass tableware manufacturers in the world;
  • is expanding its international presence with facilities in China, Mexico, the Netherlands, and Portugal;
  • is the leading manufacturer of  tabletop products for the U.S. foodservice industry; and
  • supplies products to foodservice, retail, industrial and business-to-business customers in over 100 countries.

Based in Toledo, Ohio, since 1888, the Company operates glass tableware manufacturing plants in the United States in Louisiana and Ohio, as well as in Mexico, China, Portugal and the Netherlands.  Its Crisa subsidiary, located in Monterrey, Mexico, is the leading producer of glass tableware in Mexico and Latin America.  Its Royal Leerdam subsidiary, located in Leerdam, Netherlands, is among the world leaders in producing and selling glass stemware to retail, foodservice and industrial clients.  Its Crisal subsidiary, located in Portugal, provides an expanded presence in Europe.  Its Syracuse China subsidiary designs and distributes an extensive line of high-quality ceramic dinnerware, principally for foodservice establishments in the United States.  Its World Tableware subsidiary imports and sells a full-line of metal flatware and holloware and an assortment of ceramic dinnerware and other tabletop items principally for foodservice establishments in the United States.  Its Traex subsidiary, located in Wisconsin, designs, manufactures and distributes an extensive line of plastic items for the foodservice industry.  In 2009, Libbey Inc.'s net sales totaled $748.6 million.

SOURCE Libbey Inc.