Mayville Engineering Company, Inc. (NYSE: MEC) (the “Company” or “MEC”), a leading value-added provider of design, prototyping and manufacturing solutions serving diverse end-markets, today announced that it has been selected to join the broad-market Russell 3000®Index at the conclusion of the 2023 Russell indexes annual reconstitution, effective after the U.S. market opens on June 26, 2023, according to a preliminary list of additions posted May 19.
FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12.1 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
“MEC is honored to join the Russell 3000®Index,” stated Jag Reddy, MEC’s President and Chief Executive Officer. “Our strategic focus on operational and commercial excellence positions MEC to opportunistically benefit from onshoring and reshoring trends among major OEMs, with a long-term goal of maximizing shareholder value. Our inclusion within the Index is an important milestone for our entire team, one that will serve to build awareness around the MEC growth story, while increasing our exposure to new investor audiences.”
For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.
ABOUT MAYVILLE ENGINEERING COMPANY
Founded in 1945, MEC is a leading U.S. based, vertically integrated, value-added manufacturing partner providing a full suite of manufacturing solutions from concept to production, including design, prototyping and tooling, fabrication, coating, assembly and aftermarket components. Our customers operate in diverse end markets, including heavy- and medium-duty commercial vehicles, construction & access equipment, powersports, agriculture, military, and other end markets. Along with process engineering and development services, MEC maintains an extensive manufacturing infrastructure with 20 facilities across seven states.
MEC produces metal components that are used in a broad range of heavy- and medium-duty commercial vehicles, construction, powersports, agricultural, military and other products. For more information, please visit www.mecinc.com.
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