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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) |
February 23, 2012
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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)
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Registrant’s telephone number, including area code (518) 445-2200
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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)) | |||
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Item 2.05 Costs Associated with Exit or Disposal Activities
On February 23, 2012, Albany International Corp. ("the Company") issued a news release related to a proposal to consolidate manufacturing operations in France.
The proposal is subject to local legal requirements and consultation with the local employee works council. Until consultations are concluded, the Company is unable reasonably to estimate the costs that it would expect to incur in connection with the proposed action. 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. The following exhibits are being furnished herewith:
99.1 News release dated February 23, 2012.
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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
Name: John B. Cozzolino
Title: Chief Financial Officer and Treasurer
Date: February 24, 2012
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Index to Exhibits
| Exhibit No. | Description |
| 99.1 | News release dated February 23, 2012 |
Exhibit 99.1
| NEWS RELEASE |  |
Albany International Announces Capacity Consolidation in France to Maintain Competitiveness of its Global PMC/EF Business
Rochester, New Hampshire, February 23, 2012 – Albany International Corp. (NYSE:AIN) announced today that its subsidiary, Albany International France S.A., has initiated consultation with the employee works council in France regarding a proposal to cease operations at the Company’s engineered fabrics production facility in St. Junien. Under the proposal, production of engineered fabrics would be transferred to the Company’s Sélestat, France, manufacturing operation. Consultation will be completed in accordance with applicable French legislation.
The proposed action at St. Junien in no way reflects on the performance of the affected employees, but is driven by existing and anticipated market conditions.
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About Albany International
Albany International is a global advanced textiles and materials processing company, with two core businesses. Process Machine Clothing is the world’s leading producer of custom-designed fabrics and belts essential to production in the paper, nonwovens, and other process industries. Albany Engineered Composites is a rapidly growing supplier of highly engineered composite parts for the aerospace industry. In addition, the Company’s PrimaLoft® Products is a supplier of high-performance insulation materials for outerwear and home furnishings. Albany International is headquartered in Rochester, New Hampshire, operates 18 plants in 11 countries, employs 4,300 people worldwide, and is listed on the New York Stock Exchange (Symbol AIN). Additional information about the Company and its products and services can be found at www.albint.com.
Albany International Corp.
216 Airport Dr.
Rochester, NH 03867 USA
www.albint.com
Contacts
Investors
John Cozzolino
518-445-2281
john.cozzolino@albint.com
Media
Susan Siegel
603-330-5850
susan.siegel@albint.com