SCOTTSDALE, Ariz., Oct. 03, 2016 (GLOBE NEWSWIRE) -- TPI Composites, Inc. (“TPI”) (Nasdaq:TPIC), a leading global wind blade manufacturer, today announced that it has been added to the Russell 2000®, Russell 3000®, and Russell Microcap Indexes, effective Friday, September 30, 2016, after market close.
“We are pleased with TPI’s addition to the Russell indices,” said Steve Lockard, TPI Composites President and Chief Executive Officer. “Our inclusion to these indices follows our successful IPO back in July and will help increase TPI’s exposure in the investment community.”
About FTSE Russell
Russell US Indexes are the leading US equity benchmarks for institutional investors. This broad range of US indexes allow investors to track current and historical market performance by specific size, investment style and other market characteristics. All Russell US Indexes are subsets of the Russell 3000® Index, which includes the well-known large cap Russell 1000® Index and small cap Russell 2000® Index. The Russell US Indexes are designed as the building blocks of a broad range of financial products, such as index tracking funds, derivatives and Exchange Traded Funds (ETFs), as well as being performance benchmarks.
Eligible initial public offerings (IPOs) are added to Russell indexes quarterly in accordance with the schedule in Section 4 of the Russell U.S Equity Indexes Construction and Methodology document version 2.2, published in August 2016. FTSE Russell adds IPOs each quarter to ensure that new additions to the institutional investing opportunity set are reflected in representative indexes. FTSE Russell focuses on IPOs each quarter because it is important to reflect market additions between reconstitution periods.
For more information on the FTSE Russell, go to the FTSE Russell website.
About TPI Composites, Inc.
TPI Composites, Inc. is the largest U.S.-based independent manufacturer of composite wind blades for the wind energy market. TPI delivers high-quality, cost-effective composite solutions through long term relationships with leading wind turbine manufacturers. TPI is headquartered in Scottsdale, Arizona and operates factories throughout the U.S., Mexico, China and Turkey.
Source: TPI Composites, Inc.