U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report: November 9, 2006
(Date of earliest event reported)
ALBANY INTERNATIONAL CORP.
(Exact name of registrant as specified in its charter)
Delaware 0-16214 14-0462060
(State or other jurisdiction (Commission (IRS employer
of incorporation) file number) identification no.)
1373 Broadway, Albany, New York 12204
(518) 445-2200
(Address and telephone number of the registrant's principal executive offices)
Item 5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers
At a regular meeting on November 9, 2006, Edgar G. Hotard was elected as a
member of the Board of Directors of the Registrant. Mr. Hotard was also
appointed as a member of the Compensation Committee. A copy of the Company's
news release announcing Mr. Hotard's election is filed as Exhibit 99.1 to this
report. After his election, Mr. Hotard entered into an indemnification agreement
with the Registrant, the form of which was filed previously as Exhibit 10(t) in
a Current Report on Form 8-K filed on April 12, 2006.
Item 9.01 Financial Statements and Exhibits
(a) Not applicable.
(b) Not applicable.
(c) Not applicable.
(d) Exhibits. The following exhibit is being furnished herewith:
99.1 News release dated November 9, 2006 announcing election of director.
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/ Michael C. Nahl
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Name: Michael C. Nahl
Title: Executive Vice President and
Chief Financial Officer
Date: November 13, 2006
EXHIBIT INDEX
Exhibit No. Description
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99.1 News release dated November 9, 2006.
Exhibit 99.1
EDGAR G. HOTARD ELECTED TO ALBANY INTERNATIONAL
BOARD OF DIRECTORS
Albany, New York, November 9, 2006 - Albany International Corp. (NYSE:AIN;
PCX, FWB) announced today that Edgar G. Hotard has been elected to its Board of
Directors, increasing the number of directors to ten. Mr. Hotard was also named
a member of the Company's Compensation Committee.
Mr. Hotard, 63, is an independent investor and consultant. He serves as a
Senior Advisor to the Monitor Group, a global strategy consulting firm, and as
the Chairman of the Monitor Group (China). He also serves as Senior Advisor to
MPM Capital, is a Venture Partner with ARCH Venture Partners, and Managing
General Partner of Hotard Holdings Ltd., an investment partnership. In 1999, Mr.
Hotard retired as President and Chief Operating Officer of Praxair, Inc. In
1992, he led the spin-off of Praxair from Union Carbide Corporation, where he
served as Corporate Vice President.
Mr. Hotard is a member of the Board of Directors of Global Industries,
Ltd., privately held Shona Energy, Ltd., and a member of the Executive Committee
of the Board of Directors of the US-China Business Council. He was a founding
sponsor of the China Economic and Technology Alliance and of a joint MBA program
between Renmin University, Beijing, and the School of Management, State
University of Buffalo, New York. He is the year 2000 recipient of the Great Wall
Award from the Municipality of Beijing.
Mr. Hotard earned a Bachelor of Science degree in engineering from
Northwestern University.
Albany International is the world's largest producer of custom-designed
paper machine fabrics and process belts that are essential to the manufacture of
paper and paperboard. In its family of businesses, Albany applies its core
competencies in advanced textiles and materials to other industries. Founded in
1895, the Company is headquartered in Albany, New York, and employs
approximately 6,100 people worldwide. The Company's plants are strategically
located to serve its global customers. Additional information about the Company
and its businesses and products is available at www.albint.com.