ALBANY INTERNATIONAL CORP. (NYSE:AIN) Files An 8-K Costs Associated with Exit or Disposal ActivitiesItem 2.05. Costs Associated with Exit or Disposal Activities.
Albany International Corp. (the “Company”) announced today that its subsidiary, Albany International France S.A.S. (“Albany France”), has initiated discussions with the employee Works Council regarding a proposal to restructure operations at the Company’s Machine Clothing production facilities in Sélestat. The proposed restructuring would reduce employment by approximately 54 positions.
Works Council consultations will be completed in accordance with applicable French law. Until such consultations are concluded, the Company is unable to reasonably estimate the costs it would expect to incur in connection with the proposed action. The Company will disclose the amount, type and timing of such costs promptly after they are determined.
Item 7.01 Regulation FD Disclosure
A copy of the press release is attached as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
| (d) | Exhibits. The following exhibit is being furnished herewith: |
| 99.1 | News release dated October 5, 2017. |
ALBANY INTERNATIONAL CORP /DE/ ExhibitEX-99.1 2 e75963ex99-1.htm NEWS RELEASE Exhibit 99.1 NEWS RELEASE ALBANY INTERNATIONAL ANNOUNCES PROPOSED ACTIONS TO RESTRUCTURE MACHINE CLOTHING OPERATIONS IN EUROPE Rochester,…To view the full exhibit click here
About ALBANY INTERNATIONAL CORP. (NYSE:AIN)
Albany International Corp. is a textiles and materials processing company. The Company operates through two segments: Machine Clothing (MC) and Albany Engineered Composites (AEC). Its MC segment supplies permeable and impermeable belts used in the manufacture of paper, paperboard, nonwovens, fiber cement and various other industrial applications. The segment also supplies customized, consumable fabrics used in the manufacturing process in the pulp, corrugator, nonwovens, fiber cement, building products, and tannery and textile industries. Its AEC segment includes Albany Safran Composites, LLC (ASC), in which its customer SAFRAN Group owns interest and provides engineered, advanced composite structures based on its technology to customers in the aerospace and defense industries. The segment also designs, develops and manufactures advanced composite parts for aerospace and other applications, using a range of core technologies. It operates approximately 20 plants in over 10 countries.
