NORTH AMERICA HEADLINESNorth America
Metals USA Holdings to Join Russell 3000 Index
Jun. 23, 2010 Metals USA Holdings Corp. is set to join the broad-market Russell 3000® Index when Russell Investments reconstitutes its U.S. and global equity indexes on June 25, according to a preliminary list of additions posted on Russell’s website.
Annual reconstitution of Russell's U.S. indexes captures the 4000 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 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.
"Metals USA is very pleased to join the Russell 3000 Index. Our inclusion should increase awareness of our company," said Lourenco Goncalves, Metals USA's Chairman, President and Chief Executive Officer.
The Russell 3000 also serves as the U.S. component to the Russell Global Index, which Russell launched in 2007.
Russell Investments has $179 billion in assets under management as of March 31, 2010, and serves individual, institutional, and advisor clients in more than 40 countries. Founded in 1936, Russell is a subsidiary of The Northwestern Mutual Life Insurance Co.
Metals USA is one of the largest metal service centers in North America and a leading provider of value-added metal processing and inventory management services. It provides a wide range of products and services in the heavy carbon steel, flat-rolled steel, nonferrous metals, and building products markets.