AIN Albany International Corp

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):			December 11, 2015
ALBANY INTERNATIONAL CORP.
(Exact name of registrant as specified in its charter)
Delaware		1-10026		14-0462060
(State or other jurisdiction of incorporation)		(Commission File Number)		(I.R.S. Employer Identification No.)
216 Airport Drive, Rochester, New Hampshire				03867
(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 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

Item 8.01. Other Events

 

On December 11, 2015, Albany International Corp. announced that Mr. Ralph M. Polumbo, President, Albany Engineered Composites announced his plans to retire effective January 1, 2016. He will be succeeded by Diane Loudon, AEC’s Senior Vice President for Operations and General Manager of Albany Safran Composites, LLC.

 

A copy of the news release is furnished as Exhibit 99.1 to this report.

 

 

Item 9.01. Financial Statements and Exhibits.

(d)

Exhibits. The following exhibit is being furnished herewith:

99.1

News release of Albany International Corp., dated December 11, 2015.

 

 

 

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/ John B. Cozzolino_______________
	Name: John B. Cozzolino
	Title: Chief Financial Officer and Treasurer
	(Principal Financial Officer)

 

Date: December 11, 2015

 

 

 

 

 

EXHIBIT INDEX

 

Exhibit No.	Description
99.1	News release dated December 11, 2015.

 

 

 

 

 

 

 

 

 

Exhibit 99.1

NEWS RELEASE

 

 

 

ALBANY INTERNATIONAL ANNOUNCES MANAGEMENT CHANGES

 

 

Rochester, New Hampshire, December 11, 2015 – Albany International Corp. (NYSE:AIN) announced today senior management changes in Albany Engineered Composites, Inc. (AEC).

Ralph Polumbo, President of AEC, will retire on January 1, 2016, at which time Diane Loudon, AEC’s Senior Vice President for Operations and General Manager of Albany Safran Composites, LLC, will be promoted to succeed Mr. Polumbo. Ms. Loudon will report to Dr. Joseph G. Morone, President and CEO of Albany International.

In announcing Mr. Polumbo’s retirement, Dr. Morone said, “Throughout his nearly ten-year career with Albany International, Ralph has been intimately involved in the Company’s transformation. For the first half of his tenure, as Senior Vice President HR and then Chief Administrative Officer, he helped shape the restructuring and renewal of Machine Clothing. And since 2010, he has led Albany Engineered Composites through a critical phase of maturation, building the organization, talent, systems and business processes required to meet the unprecedented ramp up in volume that begins next year with the entry into service of the LEAP engine.”

Ms. Loudon joined Albany Engineered Composites in November 2011 as Senior Vice President for Operations, and has led Albany Safran Composites since November 2013. In the twenty years prior to joining AEC, she served in a variety of executive roles in operations and program management in the medical devices industry, most recently at Accellent.

(more)

Albany International Corp.

216 Airport Dr.

Rochester, NH 03867 USA

www.albint.com

 

 

Ms. Loudon has an MBA from Syracuse University and undergraduate degrees in Industrial Engineering and Accounting.

“Diane brings to her new job broad and deep experience in operations, a passionate commitment to enterprise-wide operational excellence, and a very personal and engaged style of leadership – precisely the combination required to lead AEC simultaneously through the ramp up of the LEAP engine and the conversion to commercial reality of our new business opportunity pipeline. All of us at Albany look forward to working with Diane in this pivotal moment in the growth of AEC,” said Dr. Morone.

 

About Albany International Corp.

Albany International is a global advanced textiles and materials processing company with two core businesses. 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. Albany International is headquartered in Rochester, New Hampshire, operates 19 plants in 10 countries, employs 4,000 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.

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Contacts:

 

Investors	Media
John Cozzolino	Susan Siegel
518-445-2281	603-330-5866
john.cozzolino@albint.com	susan.siegel@albint.com