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) April 10, 2008
ALBANY INTERNATIONAL CORP.
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(Exact name of registrant as specified in its charter)
Delaware 0-16214 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))
Item 2.05. Costs Associated with Exit or Disposal Activities.
Albany International Corp. (the "Company") issued a news release on April 10,
2008 announcing plans to shut down its Mansfield, Massachusetts, facility, and
consolidate its technical and manufacturing operations located there into other
facilities in Europe and North America.
The Mansfield closure, which will affect approximately 80 employees, is expected
to be completed by year-end.
Discussions with affected employees, many of whom will be asked to relocate, are
expected to begin shortly. Until they are concluded, the Company is unable
reasonably to estimate the costs expected to be incurred in connection with
these plans. The Company will disclose the amount, type and timing of these
costs promptly after they are determined.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
99.1 News Release dated April 10, 2008.
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: April 15, 2008
EXHIBIT INDEX
Exhibit No. Description
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99.1 News Release dated April 10, 2008
Exhibit 99.1
Albany International Announces Closure of Mansfield,
Massachusetts, Facility
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Albany, New York, April 10, 2008 - Albany International Corp. (NYSE:AIN)
announced today that it plans to shut down its Mansfield, Massachusetts,
facility, and consolidate its technical and manufacturing operations located
there into other facilities in Europe and North America.
The Mansfield closure, which will affect approximately 80 employees, is
expected to be completed by year-end. This action is part of an ongoing,
company-wide effort to streamline operations, and in no way reflects on the
performance of the affected employees, who will be offered the opportunity to
relocate or severance and outplacement assistance.
Albany International Corp. is a global advanced textile and materials
processing company with approximately 6,100 employees worldwide and plants
strategically located to serve its global customers. The Company's 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
www.albint.com.