U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report: September 23, 2010
(Date of earliest event reported)
ALBANY INTERNATIONAL CORP.
(Exact name of registrant as specified in its charter)
| Delaware | 1-10026 | 14-0462060 |
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| State or other jurisdiction | (Commission | (I.R.S. Employer |
| of incorporation) | File Number) | Identification No.) |
(518) 445-2200
(Address and telephone number of the registrant's principal executive offices)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
|_| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13a-4(c))
Item 5.02 Departure of Directors or Principal Officers; Appointment of Certain Officers; Compensation Arrangement of Certain Officers
On September 23, 2010, Albany International Corp. ("the Registrant") announced the termination of Senior Vice President and Chief Financial Officer Michael K. Burke, and the election of John B. Cozzolino as Acting Chief Financial Officer. A copy of the press release is filed herewith. Mr. Burke is entitled to certain severance and other benefits pursuant to the terms of a severance agreement previously filed under cover of a Form 8-K on July 2, 2009.
Item 9.01. Financial Statements and Exhibits.
| (d) Exhibits. The following exhibits are being furnished herewith: | |
| 99.1 | Press release dated September 23, 2010. |
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Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
ALBANY INTERNATIONAL CORP.
| By: | /s/ John B. Cozzolino | |
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| Name: | John B. Cozzolino | |
| Title: | Vice President and Acting | |
| Chief Financial Officer |
Date: September 23, 2010
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Index to Exhibits
| Exhibit No. | Description |
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| 99.1 | Press release, dated as of September 23, 2010 |
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Albany, New York, September 23, 2010 – Albany International Corp. (NYSE: AIN) announced today that it had terminated the employment of Michael K. Burke , Senior Vice President and Chief Financial Officer, effective immediately, without cause. Mr. Burke will be entitled to certain severance and other amounts under the terms of the severance agreement entered into at the time of his employment in 2009. The Company has retained Korn/Ferry International to assist it in identifying replacement CFO candidates. The Company’s Board of Directors has in the meantime appointed John B. Cozzolino, Vice President–Corporate Treasurer and Strategic Planning, as Acting Chief Financial Officer, also effective immediately.
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 growth businesses extends its advanced textiles and materials capabilities into a variety of other industries, most notably aerospace composites, nonwovens, building products, high-performance industrial doors, and high-performance insulation. Additional information about the Company and its businesses and products is available at www.albint.com.
Contacts:
Investors:
John Cozzolino
Vice President–Corporate Treasurer and Strategic Planning/Acting Chief Financial Officer
518-445-2281
john.cozzolino@albint.com
Media:
Susan Siegel, Director of Corporate Communications
518-445-2284
susan.siegel@albint.com