ALBANY, N.Y.--(BUSINESS WIRE)--Jul. 27, 2009--
Albany International Corp. (NYSE: AIN) announced today that it will
discontinue operations at its forming fabric manufacturing facility in
Portland, Tennessee. The plant closing is the result of the continuing
consolidation of customers in the U.S. and Canada, accelerated by the
economic recession, and the need to balance the Company’s paper machine
clothing (PMC) manufacturing capacity in North America with anticipated
paper mill demand. Similar steps have been taken by the Company over the
last few years in both Europe and North America, as the global paper and
paperboard industry continues to shift capacity from traditional paper
markets to new emerging markets.
This planned action is a business necessity, driven by existing and
expected market conditions, and in no way reflects on the performance of
the 156 affected employees, who will be offered severance and
outplacement assistance.
Transition of forming fabric manufacturing from the Portland area to
other facilities in North America will begin at once and will be
supervised by technical and manufacturing personnel to ensure continuity
of customer supply. The transition is expected to be completed by June
2010.
The Company expects that, with this action, its PMC manufacturing
capacity in the Americas will be, for the foreseeable future, as
follows: forming production for the Americas will be centered in Perth,
Ontario, Canada; Menasha and Kaukauna, Wisconsin; and Indaial, Brazil;
press production will be centered in St. Stephen, South Carolina;
Cowansville, Québec, Canada; Indaial, Brazil; and Cuautitlán, Mexico,
and dryer production in Cuautitlán.
Albany International is a global advanced textiles and materials
processing company. Its core business is the world’s leading producer of
custom-designed fabrics and belts essential to the production of paper
and paperboard. Albany’s family of emerging businesses extends its
advanced textiles and materials capabilities into a variety of other
industries, most notably aerospace composites, nonwovens, building
products, and high-performance industrial doors.
Additional information about the Company and its businesses and products
is available at http://www.albint.com.
Source: Albany International Corp.
Albany International Corp.
Investors:
John Cozzolino,
518-445-2281
Vice President–Corporate Treasurer and Strategic
Planning
john.cozzolino@albint.com
or
Media:
Susan
Siegel, 518-445-2284
Director of Corporate Communications
susan.siegel@albint.com