Westmoreland Coal Company Set to Join Russell 3000 Index
Westmoreland Coal Company (NasdaqGM: WLB) is set to join the U.S.
broad-market Russell 3000 ® Index when Russell Investments
reconstitutes its comprehensive set of U.S. and global equity indexes on
June 24, 2011, according to a preliminary list of additions posted on
June 10th.
Annual reconstitution of Russell′s U.S. indexes captures and ranks the
4,000 largest U.S. stocks as of the end of May by total market
capitalization. The Company′s membership in the Russell 3000, which
remains in place for one year, means automatic inclusion in the
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.
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
institutional assets currently are benchmarked to them. These investment
tools originated from Russell′s multi-manager investment business in the
early 1980s when the company saw the need for a more objective,
market-driven set of benchmarks in order to evaluate outside investment
managers.
About Russell:
Russell Investments provides strategic advice, world-class
implementation, state-of-the-art performance benchmarks and a range of
institutional-quality investment products. Russell has about $161
billion in assets under management as of March 31, 2011, and serves
individual, institutional and advisor clients in more than 35 countries.
Founded in 1936, Russell is a subsidiary of The Northwestern Mutual Life
Insurance Company.
About Westmoreland Coal Company:
Westmoreland Coal Company, which recently listed on the NASDAQ Global
Market exchange, is the oldest independent coal company in the United
States. The Company′s coal operations include coal mining in the Powder
River Basin in Montana and lignite mining operations in Montana, North
Dakota and Texas. Its power operations include ownership of the two-unit
ROVA coal-fired power plant in North Carolina. For more information,
visit www.westmoreland.com.
Westmoreland Coal Company
Kevin Paprzycki, 719-442-2600