SEC Filing | Albany International Corp

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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) October 3, 2005 ALBANY INTERNATIONAL CORP. - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 0-16214 14-0462060 - -------------------------------------------------------------------------------- (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification No.) 1373 Broadway, Albany, New York 12204 - -------------------------------------------------------------------------------- (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))

Item 8.01 Other Events A copy of the Company news release announcing the repatriation of undistributed foreign earnings during the third quarter of 2005 is filed as Exhibit 99.1 to this report.

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 ---------------------------------- Name: Michael C. Nahl Title: Executive Vice President and Chief Financial Officer (Principal Financial Officer) Date: October 3, 2005

EXHIBIT INDEX Exhibit No. Description - ----------- ----------- 99.1 News release dated October 3, 2005.

                                  Exhibit 99.1

            ALBANY INTERNATIONAL ANNOUNCES PLAN TO REPATRIATE FOREIGN
         EARNINGS UNDER THE PROVISIONS OF THE AMERICAN JOBS CREATION ACT

      Albany, New York, October 3, 2005 -- Albany International Corp.
(NYSE/PSE/FWB:AIN) announced today that it repatriated approximately $69.7
million of undistributed foreign earnings during the third quarter of 2005 under
the provisions of the American Jobs Creation Act (the "Act"). The Act provides a
temporary incentive for United States companies to repatriate accumulated income
earned in foreign jurisdictions at a reduced income tax cost, provided that the
funds are invested in certain qualified investments in the United States. The
estimated income tax expense associated with the repatriation is approximately
$4.4 million, or $0.14 per fully diluted share, which will be recorded in the
third quarter of 2005.

      Albany International is the world's largest producer of paper machine
clothing and high- performance doors with manufacturing plants strategically
located to serve its customers throughout the world. Founded in 1895, the
Company is headquartered in Albany, New York, and employs approximately 5,700
people worldwide. Additional information about the Company and its businesses
and products is available at www.albint.com.