Evergreen Solar, Inc. (Nasdaq: ESLR), a low-cost manufacturer of solar power products, is scheduled to join the Russell 2000 and Russell 3000 indexes. The newly reconstituted Russell indexes will become effective at the close of the U.S. markets on June 24, 2005.
“During the past 12 months, Evergreen Solar has achieved several significant milestones, including strong revenue growth, positive gross margins, technological breakthroughs and our strategic partnership with Q-Cells,” stated Evergreen Solar President and Chief Executive Officer Richard M. Feldt. “Our addition to the Russell indexes is a reflection of the Company’s substantial progress and will help continue to raise our visibility on Wall Street.”
Membership in Russell’s indexes is determined primarily by market capitalization rankings and style attributes. Russell indexes are widely used by managers for index funds and as benchmarks for both passive and active investment strategies.
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