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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) April 7, 2005
ALBANY INTERNATIONAL CORP.
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(Exact name of registrant as specified in its charter)
Delaware 0-16214 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 8.01 Other Events
A copy of a Company press release announcing certain organizational changes 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
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Name: Michael C. Nahl
Title: Executive Vice President and
Chief Financial Officer
(Principal Financial Officer)
Date: April 8, 2005
EXHIBIT INDEX
Exhibit No. Description
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99.1 News release dated April 7, 2005.
Exhibit 99.1
Albany International Corp. Announces Organizational Changes
Albany, New York, April 7, 2005 - Albany International Corp.
(NYSE/PSE/FWB:AIN) announced today the retirement of two senior executives.
After 27 years of outstanding service to Albany International, Michel Bacon,
Group Vice President-Europe, has retired from the Company. In addition, Edward
Walther has stepped down as Group Vice President-North America, in anticipation
of his retirement on June 1, 2005, after eleven years of dedicated service.
The Company also announced other organizational changes related to these
retirements. William McCarthy, previously Group Vice President-Technology and
the Pacific, has been promoted to Executive Vice President-PMC, with
responsibility for global PMC operations, including manufacturing, sales,
service, marketing, and research and development. Reporting to Mr. McCarthy are
the following new heads of the three global PMC corridors: Thomas H. Curry,
Group Vice President-PMC Americas; Daniel Halftermeyer, Group Vice President-PMC
Europe; and Hartmut Peters, Group Vice President-PMC Asia & Pacific.
Thomas Curry most recently served the Company as Vice President of North
American Sales and Marketing, a position he held since 2003. He has served the
Company in a number of positions in the United States since 1992.
Daniel Halftermeyer has been an employee of the Company since 1987,
serving most recently as Vice President and General Manager-North American Dryer
Fabrics since 1997.
Hartmut Peters became an employee of Albany when the Company acquired the
Geschmay Group companies in 1999. He has served in the Asia and Pacific region
since 2003 as Vice President of Asian Operations.
The Company also announced that Michael Nahl, previously Senior Vice
President & CFO, has been promoted to Executive Vice President & CFO, with
responsibility for global finance and the Albany Door Systems, Applied
Technologies, and Engineered Products organizations. Richard Carlstrom, Vice
President & Controller, and David Michaels, Vice President, Treasury & Tax, will
continue to report to Mr. Nahl. Also reporting to Mr. Nahl will be Dieter Polt,
Group Vice President-Albany Door Systems and Applied Technologies.
Messrs. McCarthy and Nahl will continue to report to Frank Schmeler,
Chairman & CEO.
The Company also announced that John Standish, previously Director of
Manufacturing, North American Dryer Fabrics, had been promoted to Senior Vice
President-Manufacturing, reporting to Bill McCarthy, Executive Vice
President-PMC. In this new position, Mr. Standish is responsible for directing
the manufacture of paper machine clothing globally. Mr. Standish is also a
Director of the Company and is the brother of Christine L. Standish, who also
serves as a director, and the son of J. Spencer Standish, Chairman Emeritus of
the Board.
J. Spencer Standish and related persons and trusts hold shares comprising
53.3% of the combined votes entitled to be cast by all stockholders of the
Company.
As previously announced in November 2004, Frank R. Schmeler had earlier
informed the Board of Directors of his intention to retire as the Company's
Chief Executive Officer at the end of 2005. Korn/Ferry International continues
to assist the Company's Board of Directors in identifying external and internal
candidates to succeed Mr. Schmeler.
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. Additional information
about the Company and its businesses and products is available at
www.albint.com.