NEW YORK, March 26, 2014 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P 500, S&P MidCap 400 and S&P SmallCap 600 indices after the close of trading on Tuesday, April 1:

• S&P MidCap 400 constituent Essex Property Trust Inc. (NYSE:ESS) will replace Cliffs Natural Resources Inc. (NYSE:CLF) in the S&P 500, Cliffs Natural Resources will replace Essex Property Trust in the S&P MidCap 400, S&P SmallCap 600 constituent FEI Co. (NASD:FEIC) will replace BRE Properties Inc. (NYSE:BRE) in the S&P MidCap 400, and Fabrinet (NYSE:FN) will replace FEI in the S&P SmallCap 600. Essex is acquiring BRE Properties in a deal expected to be completed after the close on April 1. Cliff Natural Resources and FEI have market capitalizations that are more representative of the mid-cap market space.
• Albany Molecular Research Inc. (NASD:AMRI) will replace Supertex Inc. (NASD:SUPX) in the S&P SmallCap 600. S&P 500 constituent Microchip Technology Inc. (NASD:MCHP) is acquiring Supertex in a deal expected to be completed on or about April 1.

Essex Property, a real estate investment trust (REIT), engages in the ownership, operation, management, acquisition, development, and redevelopment of apartment communities. Headquartered in Palo Alto, CA, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Residential REITs Sub-Industry index.

Cliffs Natural Resources produces iron ore and metallurgical coal. Headquartered in Cleveland, OH, the company will be added to the S&P MidCap 400 GICS Steel Sub-Industry index.

FEI supplies scientific instruments for nanoscale applications. Headquartered in Hillsboro, OR, the company will be added to the S&P MidCap 400 GICS Electronic Equipment & Instruments Sub-Industry index.

Fabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services.  Headquartered in Cayman Islands, the company will be added to the S&P SmallCap 600 Electronic Manufacturing Services Sub-Industry index.

Albany Molecular Research provides integrated drug discovery, development, and manufacturing services.  Headquartered in Albany, NY, the company will be added to the S&P SmallCap 600 Life Sciences Tools & Services Sub-Industry index.

Following is a summary of the changes:

Additions to and deletions from S&P  Dow Jones Indices do not in any way reflect an opinion on the investment merits of the companies involved.

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For more information:

Dave Guarino 
Communications 
S&P Dow Jones Indices 
dave.guarino@spdji.com 
(212) 438-1471

David Blitzer 
Managing Director and Chairman of the Index Committee 
S&P Dow Jones Indices 
david.blitzer@spdji.com 
(212) 438-3907

SOURCE S&P Dow Jones Indices