Essex Rental Corp. Added to the Russell Microcap® Index
16 July 2010 - 4:49AM
Business Wire
Essex Rental Corp. (Nasdaq: ESSX; ESSXW; ESSXU) ("Essex")
today announced that it has been added to the Russell Microcap®
Index, following the Russell Investment Group’s annual
reconstitution of these indexes. Membership in the Russell
Microcap® Index means automatic inclusion in the appropriate growth
and value style indexes.
Ron Schad, President & CEO of Essex, stated, “We expect that
being part of such an influential and widely recognized index will
elevate our profile and our investor base."
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for both
passive and active investment strategies. An industry-leading $3.9
trillion in assets currently are benchmarked to them. Investment
managers who oversee these funds purchase shares of member stocks
according to a company’s weighting in the particular index. Annual
reconstitution of Russell indexes captures the 4,000 largest U.S.
stocks as of the end of May, ranking them by total market
capitalization to create the Russell 3000® and Russell Microcap
Indexes. The largest 1,000 companies in the ranking comprise the
Russell 1000® while the remaining 2,000 companies become the widely
used Russell 2000®. The Microcap Index measures performance of the
microcap segment, and includes the smallest 1,000 companies in the
Russell 2000® Index plus the next 1,000 companies.
About Essex Rental Corp.
Headquartered outside of Chicago, Essex, through its subsidiary,
Essex Crane Rental Corp., is one of North America's largest
providers of lattice-boom crawler crane and attachment rental
services. With over 350 cranes and attachments in its fleet, Essex
supplies cranes for construction projects related to power
generation, petro-chemical, refineries, water treatment and
purification, bridges, highways, hospitals, shipbuilding, offshore
oil fabrication and industrial plants, and commercial
construction.
Some of the statements in this press release and other written
and oral statements made from time to time by the Company and its
representatives are “forward-looking statements” within the meaning
of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
These statements include statements regarding the intent and belief
or current expectations of Essex and its management team and may be
identified by the use of words like "anticipate", "believe",
"estimate", "expect", "intend", "may", "plan", "will", "should",
"seek", the negative of these terms or other comparable
terminology. Investors are cautioned that any such forward-looking
statements are not guarantees of future performance and involve
risks and uncertainties, and that actual results may differ
materially from those projected in the forward-looking statements.
Important factors that could cause actual results to differ
materially from Essex’s expectations include, without limitation,
the continued ability of Essex to successfully execute its business
plan, the possibility of a change in demand for the products and
services that Essex provides (through its subsidiary, Essex Crane),
intense competition which may require us to lower prices or offer
more favorable terms of sale, our reliance on third party
suppliers, our indebtedness which could limit our operational and
financial flexibility, global economic factors including interest
rates, general economic conditions, geopolitical events and
regulatory changes, our dependence on our management team and key
personnel, as well as other relevant risks detailed in our Annual
Report on Form 10-K and other periodic reports filed with the
Securities and Exchange Commission and available on our website,
www.essexcrane.com. The factors listed here are not exhaustive.
Many of these uncertainties and risks are difficult to predict and
beyond management’s control. Forward-looking statements are not
guarantees of future performance, results or events. Essex assumes
no obligation to update or supplement forward-looking information
in this press release whether to reflect changed assumptions, the
occurrence of unanticipated events or changes in future operating
results or financial conditions, or otherwise.
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