Albany International Announces Capacity Consolidation In France To Maintain Competitiveness Of Its Global PMC/EF Business
Albany International Corp. (NYSE:AIN) announced today that its subsidiary, Albany International France S.A., has initiated consultation with the employee works council in France regarding a proposal to cease operations at the Company’s engineered fabrics production facility in St. Junien. Under the proposal, production of engineered fabrics would be transferred to the Company’s Sélestat, France, manufacturing operation. Consultation will be completed in accordance with applicable French legislation.
The proposed action at St. Junien in no way reflects on the performance of the affected employees, but is driven by existing and anticipated market conditions.
About Albany International
Albany International is a global advanced textiles and materials
processing company, with two core businesses. Process Machine Clothing
is the world’s leading producer of custom-designed fabrics and belts
essential to production in the paper, nonwovens, and other process
industries. Albany Engineered Composites is a rapidly growing supplier
of highly engineered composite parts for the aerospace industry. In
addition, the Company’s PrimaLoft
® Products is a supplier of
high-performance insulation materials for outerwear and home
furnishings. Albany International is headquartered in Rochester, New
Hampshire, operates 18 plants in 11 countries, employs 4,300 people
worldwide, and is listed on the New York Stock Exchange (Symbol AIN).
Additional information about the Company and its products and services
can be found at
www.albint.com.
Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
