UNITED STATES
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 (Date of earliest event reported) July 27, 2009
ALBANY INTERNATIONAL CORP.
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(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.)
1373 Broadway, Albany, New York 12204
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (518) 445-2200
None
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(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.
Albany International Corp. (the "Company") issued a news release on July 27,
2009 announcing plans to discontinue operations at its forming fabric
manufacturing facility in Portland, Tennessee.
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 July 27, 2009.
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
(Principal Financial Officer)
Date: July 28, 2009
EXHIBIT INDEX
Exhibit No. Description
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99.1 News Release dated July 27, 2009
EXHIBIT 99.1
Albany International Announces Closure of Portland, Tennessee, Facility
ALBANY, N.Y., 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, Quebec, Canada; Indaial, Brazil; and
Cuautitlan, Mexico, and dryer production in Cuautitlan.
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
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or
Media:
Susan Siegel, 518-445-2284
Director of Corporate Communications
susan.siegel@albint.com
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