Albany International Announces Plans to Reduce Manufacturing Capacity and Personnel in Germany
February 20 2015 - 8:30AM
Business Wire
Albany International Corp. (NYSE:AIN) reported today that its
German affiliate, Württembergische Filztuchfabrik K. Geschmay GmbH,
has announced plans to discontinue manufacturing operations at its
press fabric manufacturing facility in G�ppingen, Germany. This
planned action is driven by the continuing consolidation of paper
industry customers in Europe, and the continuous need to match the
Company’s paper machine clothing manufacturing capacity in Europe
with the demands of our customers, so that customer sourcing is
optimized. The G�ppingen plan would be subject to applicable local
law and would be implemented in accordance with such law and in
consultation with the Works Council.
The proposed action in Germany in no way reflects on the
performance of the 52 affected employees; it is a business
necessity, driven by both the existing and anticipated market
conditions.
Following completion of this planned action, the Company’s
European press fabrics manufacturing activities will now be
centered in Halmstad, Sweden. There will be no impact on the
Company’s other European machine clothing manufacturing operations.
The Company’s customers in Germany, and throughout Europe, will
continue to receive world-class expertise and support in Product
Application, Sales and Marketing, Service, and Research and
Development from the same experienced Albany team.
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 20 plants in 11 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.
Albany International Corp.InvestorsJohn Cozzolino,
518-445-2281john.cozzolino@albint.comorMediaSusan Siegel,
603-330-5866susan.siegel@albint.com
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