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) November 20, 2008
ALBANY INTERNATIONAL CORP.
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 1-10026 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 2.05. Costs Associated with Exit or Disposal Activities.
Albany International Corp. (the "Company") issued a news release on November 20,
2008 announcing the intention of its subsidiary, Wurttembergische Filztuchfabrik
D. Geschmay GmbH ("WFG") to consolidate manufacturing operations at its paper
machine clothing manufacturing operations in Goppingen, Germany.
The consolidation is subject to local law, as well as to consultation with
employee works councils. The consolidation could affect up to 110 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 November 20, 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
-----------------------------------
Name: Michael C. Nahl
Title: Executive Vice President and
Chief Financial Officer
Date: November 20, 2008
EXHIBIT INDEX
Exhibit No. Description
- ----------- -----------
99.1 News Release dated November 20, 2008
Exhibit 99.1
Albany International Announces Planned Personnel Reduction in Europe
- --------------------------------------------------------------------------------
Albany, New York, November 20, 2008 - Wurttembergische Filztuchfabrik D.
Geschmay GmbH, an affiliate of Albany International Corp. (NYSE:AIN), announced
today its intention to reduce personnel at its facility in Goppingen, Germany.
The personnel reduction is the result of the continuing consolidation of
customers in Europe and the need to balance the Company's paper machine clothing
manufacturing capacity in Europe with anticipated paper mill demand. Similar
steps have been taken by the Company over the last few years in both Europe and
North America, as the global paper and paperboard industry continues to shift
capacity from traditional paper markets to new emerging markets.
The reduction is subject to review under local law and will be implemented
in accordance with such law and in consultation with the Works Council.
The planned action at Goppingen 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 reduction of personnel is expected to become
effective by March 31, 2009.
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