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 15, 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))
Item 2.05. Costs Associated with Exit or Disposal Activities.
Albany International Corp. (the "Company") issued a news release on January 15,
2009 announcing the intention of its subsidiary, Albany International Oy ("AI
Oy"), to discontinue operations at its dryer fabric facility in Konala, Finland.
This action is subject to local law, as well as to consultation with employee
works councils. The action could affect up to 133 employees.
Works council discussions are expected to begin shortly. Until they are
concluded, the Company is unable reasonably to estimate the costs that it would
expect to incur in connection with this intended 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.
99.1 News Release dated January 15, 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
Date: January 16, 2009
EXHIBIT INDEX
Exhibit No. Description
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99.1 News Release dated January 15, 2009
Exhibit 99.1
Albany International Announces Planned Reduction in
Manufacturing Capacity in Europe
Albany, New York, January 15, 2009 - Albany International Oy, an affiliate
of Albany International Corp. (NYSE:AIN), announced today its plan to
discontinue operations at its dryer fabric manufacturing facility in Konala,
Finland. Over the last several years, similar steps have been taken in North
America and Europe to match capacity to the global demand for paper machine
clothing, as the global paper industry has continued to consolidate and
eliminate capacity.
The proposal, if implemented, is estimated to affect up to 133 employees
and is subject to review under local law and would be implemented in accordance
with such law and in consultation with the Works Council.
The planned action at Konala in no way reflects on the performance of the
affected employees; it is a business necessity, driven by the existing and
anticipated market conditions.
The company remains committed to the dryer fabric business and will
continue to provide customers with strong expertise in Product Application,
Sales and Marketing, Service, and Research and Development to ensure outstanding
product quality. It is planned that dryer fabric sourcing will continue to be
available from manufacturing operations in Germany, China, France, and Mexico.
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 www.albint.com.
Contacts:
Investors:
John Cozzolino
Vice President of Strategic Planning
518-445-2281
john.cozzolino@albint.com
Media:
Susan Siegel
Director of Corporate Communications
518-445-2284
susan.siegel@albint.com