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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
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FORM 8-K
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| CURRENT REPORT | ||||
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Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
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| Date of Report (Date of earliest event reported) | December 9, 2011 | |||
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ALBANY INTERNATIONAL CORP. | ||||
| (Exact name of registrant as specified in its charter) | ||||
| Delaware | 1-10026 | 14-0462060 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) | ||
| 216 Airport Drive, Rochester, NH | 03867 | |||
| (Address of principal executive offices) | (Zip Code) | |||
| Registrant’s telephone number, including area code (518) 445-2200 | ||||
| None | ||||
| (Former name or former address, if changed since last report.) | ||||
| 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)) | |||
TABLE OF CONTENTS
Item 2.05 COSTS ASSOCIATED WITH EXIT OR DISPOSAL ACTIVITIES.
On December 9, 2011, Albany International Corp. (the “Company”) issued a press release to announce plans to discontinue manufacturing at its forming fabric facility in Menasha, Wisconsin. The closure will begin in January 2012. The 48 affected employees will be offered severance and outplacement assistance.
The Company is presently unable to reasonably estimate the costs that it would expect to incur in connection with these intended actions. The Company will disclose the amount, type and timing of any such costs promptly after they are determined.
Item 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
| (d) | Exhibits. | |
| 99.1 | News Release dated December 9, 2011. |
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/ David M. Pawlick__________________
Name: David M. Pawlick
Title: Vice President-Controller
(Principal Accounting Officer)
Date: December 12, 2011
EXHIBIT INDEX
| Exhibit No. | Description | |
| 99.1 | News Release dated December 9, 2011 |
EXHIBIT 99.1
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Albany International Announces Closure of
Manufacturing Capacity in Menasha, Wisconsin
Rochester, New Hampshire, December 9, 2011 -- Albany International Corp. (NYSE:AIN) announced today it will discontinue manufacturing at its forming fabric facility in Menasha, Wisconsin. This action results from the need to balance the Company’s paper machine clothing manufacturing capacity in North America with anticipated long-term demand.
The closure will begin in January 2012. This planned action is a business necessity, driven by existing and expected market conditions, and in no way reflects on the performance of the 48 affected employees, who will be offered severance and outplacement assistance.
Transition of forming fabric manufacturing from Menasha to other facilities in North America will be supervised by technical and manufacturing personnel to ensure continuity of customer supply. The transition is expected to be completed by July 2012.
The Company’s Menasha facility will continue to operate as a center of excellence in forming technology and as one of the organization’s R&D centers.
Albany International Corp. (NYSE:AIN) 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 and yarn. Additional information about the Company and its businesses and products is available at www.albint.com.
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| Contacts: | |
| Investors: John Cozzolino 518-445-2281 john.cozzolino@albint.com |
Media: Susan Siegel 518-445-2284 susan.siegel@albint.com |