NEW YORK, April 25 /PRNewswire/ -- Matthews International Corp. will replace Swift Transportation Co. Inc. in the S&P MidCap 400 index after the close of trading on a date to be announced. Swift Transportation is being acquired by its former Chairman and Chief Executive Officer, Jerry Moyes, in a deal still pending final approvals.
Standard & Poor's will monitor this transaction, and post any relevant updates on its website: http://www.standardandpoors.com/.
Matthews engages in the design, manufacture, and sale of memorialization products and brand solutions for the cemetery and funeral home industries. Headquartered in Pittsburgh, PA, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Specialized Consumer Services Sub-Industry index.
Following is a summary of the change:
S&P MIDCAP 400 INDEX - To Be Announced
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED Matthews Consumer Discretionary Specialized Consumer Services
DELETED Swift Industrials Trucking Transportation
Additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the companies concerned.
About Standard & Poor's
Standard & Poor's, a division of The McGraw-Hill Companies , is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 7,500 employees, including wholly owned affiliates, located in 21 countries, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit http://www.standardandpoors.com/.
About The McGraw-Hill Companies:
Founded in 1888, The McGraw-Hill Companies is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor's, McGraw-Hill Education, BusinessWeek and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries. Sales in 2006 were $6.3 billion. Additional information is available at http://www.mcgraw-hill.com/.
