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)			January 12, 2012
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 2.01 Completion of Acquisition or Disposition of Assets

 

On November 1, 2011, Albany International Corp. (the “Company”) filed a current report on Form 8-K disclosing under Item 1.01 that it had entered into a Stock and Asset Purchase Agreement (the “Agreement”)with ASSA ABLOY AB for the sale of the Company’s global Albany Door Systems (“ADS”) business (the “Transaction”), and describing the material terms of the agreement. A copy of the Agreement was also filed.

 

The Transaction was completed on January 11, 2012. Total consideration is $130 million, which is subject to certain post-closing adjustments for working capital and related items, and paid in the manner set forth in the Agreement. As described in the Agreement, the Company has agreed to provide certain post-closing information systems and other services for a limited time.

 

Item 8.01 Other Events

 

The Company issued a news release on January 12, 2012, announcing the closing of the Transaction. The news release is attached hereto.

 

Item 9.01 Financial Statements and Exhibits

 

(d) Exhibits.

 

99.1

News Release dated January 12, 2012

 

 

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

(Principal Financial Officer)

 

 

Date: January 12, 2012

EXHIBIT INDEX

 

Exhibit No.	Description
99.1	News release dated January 12, 2012

Exhibit 99.1

 

 

NEWS RELEASE

 

ALBANY INTERNATIONAL ANNOUNCES COMPLETION OF

ALBANY DOOR SYSTEMS TRANSACTION

____________________________________________________________________________

 

Rochester, New Hampshire, January 12, 2012 – Albany International Corp. (NYSE:AIN) announced today that the sale of its global Albany Door Systems (“ADS”) business to ASSA ABLOY AB (the “Buyer”), as announced on October 28, 2011, was successfully completed on January 11, 2012. The selling price was $130 million, subject to customary post-closing adjustments.

 

As previously indicated the Company intends to use the net proceeds from the transaction to strengthen the balance sheet and will have more detail about its approach to doing so in future earnings releases.

 

# # #

 

Albany International is a global advanced textiles and materials processing company with approximately 4,300 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 growth businesses extends its advanced textiles and materials capabilities into a variety of other industries, most notably aerospace composites, nonwovens, building products, and high-performance insulation and yarn. Additional information about the Company and its businesses and products is available at www.albint.com.

 

Investor Contact:	Media Contact:
John Cozzolino	Susan Siegel
518-445-2281	518-445-2284
john.cozzolino@albint.com	susan.siegel@albint.com

 

Albany International Corp.

216 Airport Dr.

Rochester, NH 03867 USA

www.albint.com