BALTIMORE, June 12, 2018 (GLOBE NEWSWIRE) -- WillScot Corporation (NASDAQ:WSC) (“Williams Scotsman”), the specialty rental services market leader providing innovative modular space and portable storage solutions across North America, today announced that it has been included in a preliminary list of additions to the broad-market Russell 3000® Index and the small-cap Russell 2000® Index, according to a list published by FTSE on June 8. Inclusion in the Russell 2000® Index would take place at the conclusion of the Russell U.S. Indexes annual reconstitution, effective after the U.S. market opens on June 25.
The annual reconstitution of the Russell U.S. Indexes captures the 4,000 largest U.S. stocks as of May 11, ranking them by total market capitalization. Membership in the Russell 3000® Index, 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. FTSE Russell determines membership for its Russell U.S. Indexes primarily by objective, market-capitalization rankings and style attributes.
Brad Soultz, President and Chief Executive Officer of Williams Scotsman, commented, “We are extremely pleased that Williams Scotsman is included in FTSE’s list of new additions to the Russell 3000 and Russell 2000 Indexes. This outcome is an important acknowledgement of both the progress we have made executing on our mission and the strong support we have received from the investment community. We believe this will enhance the profile of our company and ultimately introduce more investors to Williams Scotsman, as approximately $9 trillion in assets under management (AUM) are benchmarked to, or invested in, products based on the Russell U.S. Indexes.”
Russell U.S. Indexes are widely used by investment managers and institutional investors as the basis for index funds and as benchmarks for active investment strategies. Russell U.S. Indexes are part of FTSE Russell, a leading global index provider.
For more information on the Russell 3000® Index and the Russell U.S. Indexes reconstitution, go to the "Russell Reconstitution" section on the FTSE Russell website.
About FTSE Russell
FTSE Russell is a leading global index provider creating and managing a wide range of indexes, data and analytic solutions to meet client needs across asset classes, style and strategies. Covering 98 percent of the investable market, FTSE Russell indexes offer a true picture of global markets, combined with the specialist knowledge gained from developing local benchmarks around the world.
For more information, visit www.ftserussell.com.
About WillScot Corporation
Headquartered in Baltimore, Maryland, WillScot Corporation is the public holding company for the Williams Scotsman family of companies in the United States, Canada and Mexico. WillScot Corporation trades on the NASDAQ stock exchange under the ticker symbol "WSC." Williams Scotsman is a specialty rental services market leader providing innovative modular space and portable storage solutions across North America. Williams Scotsman is the modular space supplier of choice for the construction, education, health care, government, retail, commercial, transportation, security and energy sectors. With over half a century of innovative history, organic growth and strategic acquisitions, its branch network includes over 100 locations, its fleet comprises nearly 100,000 modular space and portable storage units and its customer base has grown to approximately 35,000.
Forward Looking Statements
This news release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended. The words “estimates,” “expects,” “anticipates,” “believes,” “forecasts,” “plans,” “intends,” “may,” “will,” “should,” “shall” and variations of these words and similar expressions identify forward-looking statements, which are generally not historical in nature. Forward-looking statements are subject to a number of risks, uncertainties, assumptions and other important factors, many of which are outside our control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Although Williams Scotsman believes that these forward-looking statements are based on reasonable assumptions, it can give no assurance that any such forward-looking statement will materialize. Important factors that may affect actual results or outcomes include, among others, our ability to acquire and integrate new assets and operations; our ability to manage growth and execute our business plan; our estimates of the size of the markets for our products; the rate and degree of market acceptance of our products; the success of other competing modular space and portable storage solutions that exist or may become available; rising costs adversely affecting our profitability; potential litigation involving our Company; general economic and market conditions impacting demand for our products and services; implementation of tax reform; our ability to implement and maintain an effective system of internal controls; and such other risks and uncertainties described in the periodic reports we file with the Securities and Exchange Commission (“SEC”) from time to time (including our Form 10-K for the year ending December 31, 2017), which are available through the SEC’s EDGAR system at https://www.sec.gov and on our website. Any forward-looking statement speaks only at the date on which it is made, and Williams Scotsman disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Additional Information and Where to Find It
Additional information about the transaction can be found on the Williams Scotsman investor relations website at https://investors.willscot.com/.
Source: Williams Scotsman