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) May 16, 2006
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
(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 the Company press release announcing the adoption of a written trading
plan under rule 10b5-1 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: May 18, 2006
EXHIBIT INDEX
Exhibit No. Description
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99.1 News release dated May 16, 2006.
Exhibit 99.1
ALBANY INTERNATIONAL ANNOUNCES APPROVAL OF 10b5-1 PLAN
Albany, New York, May 16, 2006 - Albany International Corp. (NYSE:AIN;
PCX, FWB) announced today that it has adopted a written trading plan under Rule
10b5-1 of the Securities Exchange Act of 1934 to facilitate the repurchase of
its common stock pursuant to the Company's previously announced share repurchase
authorization. A broker or brokers selected by the Company will have the
authority under terms and limitations specified in the plan to repurchase shares
on behalf of the Company, up to the 758,720 shares remaining under the existing
repurchase authorization. Under the terms of the plan, there can be no assurance
that any shares will in fact be purchased.
Purchases may be made under the plan beginning May 19, 2006. The latest
date on which the plan will terminate is October 25, 2006. A 10b5-1 plan allows
the Company to repurchase shares at times when it would ordinarily not be in the
market because of the Company's trading policies. The Company would remain
authorized to purchase shares after the termination of the 10b5-1 plan, without
further announcement, to the extent that fewer than 758,720 shares are purchased
under the 10b5-1 plan.
Albany International is the world's largest producer of custom-designed
paper machine fabrics and process belts that are essential to the manufacture of
paper and paperboard. In its family of businesses, Albany applies its core
competencies in advanced textiles and materials to other industries. Founded in
1895, the Company is headquartered in Albany, New York, and employs
approximately 5,900 people worldwide. The Company's plants are strategically
located to serve its global customers. Additional information about the Company
and its businesses and products is available at www.albint.com.