Displaying items by tag: Albany International

Albany International Corp. (NYSE:AIN), a leading developer and manufacturer of engineered components, has been recognized on the Forbes list of America’s Best Employers 2022.

“At Albany we believe our talent is our best competitive advantage and we are committed to creating an inclusive culture of continuous learning and development to support our employees to unleash their fullest potential,” says Alice McCarvill, CHRO and Executive VP of Human Resources. “I am very excited about this special recognition.”

The Forbes ranking is based on a survey conducted by independent research company Statista of 60,000 Americans working for businesses with at least 1,000 employees. Survey participants are asked how likely they are to recommend their employer and are asked to rate their companies on factors such as working conditions, development opportunities and compensation.

The Forbes list includes rankings for more than 500 public and private entities across dozens of industries. The full list of “America’s Best Employers” and more information about its methodology are available at forbes.com.

About Albany International Corp.

Albany International is a leading developer and manufacturer of engineered components, using advanced materials processing and automation capabilities, with two core businesses. Machine Clothing is the world’s leading producer of fabrics and process belts used in the manufacture of all grades of paper products. Albany Engineered Composites is a rapidly growing designer and manufacturer of advanced materials-based engineered components for jet engine and airframe applications, supporting both commercial and military platforms. Albany International is headquartered in Rochester, New Hampshire, operates 23 plants in 11 countries, employs approximately 4,100 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. (NYSE:AIN) has just announced its Board of Directors has appointed Olivier Jarrault as President, Chief Executive Officer and a member of the Board to succeed Joseph G. Morone, effective March 2.

Mr. Jarrault, 56, is a 14-year veteran of Alcoa, where his career culminated in his appointment in 2011 as Executive Vice President and Group President of Alcoa Engineered Products and Solutions (“EPS”), leading a portfolio of global advanced-technology components manufacturing businesses serving a number of markets, including aerospace, industrial gas turbines, commercial transportation, and building and construction. At the helm of EPS until 2016, Jarrault drove, through a combination of organic growth and several acquisitions of high performance materials companies, the transformation of the EPS value-add portfolio into a global multi-material aerospace product and solutions leader. Under Jarrault’s leadership, focused on growth, disciplined execution and operational excellence, all of Alcoa’s downstream businesses successfully increased their financial performance. EPS aerospace customers include Safran, GE, United Technologies, Boeing and Airbus. In his role as EVP and Group President of EPS, Mr. Jarrault had extensive interactions with Alcoa’s investors and Board of Directors.

Mr. Jarrault brings 26 years of aerospace and industrial experience to Albany. Prior to being named Group President of EPS, he served in a number of senior management positions at Alcoa - including as Chief Operating Officer of EPS in 2010 and President of Alcoa Fastening Systems from 2003 to 2009 - as well as at Fairchild Fasteners and LISI Aerospace. Born in Lille, France, Mr. Jarrault earned an MS in mechanical engineering from the California Institute of Technology and an MBA from UCLA, and is a dual citizen of the U.S. and France.

Erkie Kailbourne, Chairman of Albany’s Board of Directors, said, "The Board of Directors is very pleased to welcome Olivier Jarrault as our next President and CEO. Olivier’s experience leading a portfolio of manufacturing businesses across a broad market spectrum – including aerospace, industrial gas turbines, commercial transportation and construction - and his demonstrated talent for organizational leadership, make us confident of his ability to lead Albany’s Machine Clothing and AEC businesses. And given his particular experience in aerospace - addressing the same markets and working with the same customers as Albany’s AEC business segment - combined with his proven track record of leading a global Tier 1 aerospace supplier through a period of significant growth, both organically and through acquisition, he is the ideal person to build upon what Joe Morone has already accomplished, and lead AEC through its next stages of growth and maturity.”

Dr. Joseph G. Morone, Albany’s outgoing President and CEO, added, "In a very short time, I have developed a deep respect for Olivier. He is a strategist, but also hands-on. He is a technology-driven, growth-oriented builder of businesses, but also pays strict attention to financial discipline. He has extensive experience with boards and investors, but stays close to operations, and has extensive experience negotiating long-term, high-value agreements with aerospace customers. In my opinion, he is superbly qualified to lead Albany. I have no doubt that building on Albany’s strengths in both businesses, he’ll take the Company to an entirely new level of capability and performance."

Mr. Jarrault said, "I am privileged to have the opportunity to lead Albany - a company with such a proud and compelling history, with significant strengths and exceptional growth potential. I am excited to engage with the customers, the entire Albany organization and the Board, to continue and further expand the efforts already underway to provide greater value to our customers, and to deliver increased returns for our shareholders."

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 22 plants in 10 countries, employs 4,400 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

Source: Albany International Corp.

Albany International Corp. (NYSE:AIN) has just announced 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, France. The proposed restructuring would reduce employment by approximately 54 positions.

Machine Clothing market conditions in Europe have continued to decline since an earlier restructuring in 2013. That restructuring, which resulted in reduced employment in the Sélestat location, was intended to improve the viability of both the Sélestat and St. Junien operations. Unfortunately, despite the best efforts and good faith of all parties, conditions globally, and especially in the European market supported by these locations, have continued to decline even further since 2012, leading to the current proposal. Global Machine Clothing sales were $582 million in 2016, compared to $693 million in 2012, a decline of 16%.

President and CEO Joseph Morone said, “As we have long reported, the market for Machine Clothing in the publication grades, particularly in Europe, has been deteriorating for over a decade, and continues to do so. As we described at the time, the 2013 restructuring was part of a deliberate but painful process of aligning our global capacity to the long-term structure of the machine clothing industry. This restructuring process has to date resulted in the closing of 13 plants across the globe, including eight in North America and four in Europe, and significant downsizing at other European plants, along with investment in new capacity in Asia and South America. While we had hoped that the 2013 actions would represent the last step in this global restructuring process, continued deterioration in the market for publication paper grades has driven the need for further restructuring in order to maintain Albany’s ability to compete in the markets we continue to serve.”

Consultations with the Works Council will be completed in accordance with applicable French legislation.

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 22 plants in 10 countries, employs 4,400 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. (NYSE:AIN) have just announced that A. William Higgins has been elected to its Board of Directors.

Mr. Higgins, age 57, currently serves as a director of Kaman Corporation, a diversified aerospace and industrial distribution company, and Bristow Group Inc., a leading global industrial aviation services provider. Mr. Higgins serves as chairman of the Kaman board finance committee and is a member of the corporate governance committee. From 2008 to 2012, he served as Chairman, Chief Executive Officer and President of CIRCOR International, Inc., a global diversified supplier of fluid-control and related products and services for aerospace, energy, defense, manufacturing and other applications. Prior to 2008, he held the offices of President and Chief Operating Officer and Executive Vice President and Chief Operating Officer of CIRCOR. Before joining CIRCOR in 2005, Mr. Higgins spent thirteen years in a variety of senior management positions with Honeywell International and AlliedSignal.

Albany International Chairman Erland E. Kailbourne said, “Bill’s experience as a COO, President and then CEO and Chairman of CIRCOR, as well as his prior experience at Honeywell and AlliedSignal, bring welcome added perspective on talent development, international operations and global strategic development, lean manufacturing and continuous improvement processes, and the aerospace and defense industries. He is an ideal addition to our Board, and I take great pleasure in welcoming him as a new Director.”

About Albany International Corp.

Albany International Corp. 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 22 plants in 10 countries, employs 4,400 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.

The Board of Directors of Albany International Corp. (NYSE:AIN) has declared a quarterly dividend of $0.17 per share on the Company’s Class A and Class B Common Stock, payable on July 8, 2015, to shareholders of record on June 5, 2015. This represents an increase of $0.01 from the most recent quarterly dividend.

Albany International Corp. 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.

Source: Albany International Corp.

Albany International Corp.
Investors
John Cozzolino, 518-445-2281
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First-Quarter Highlights

Net income per share was $0.14 in the first quarter of 2010, including restructuring charges of $0.07 per share.

Net loss per share was $0.63 in the first quarter of 2009, including restructuring charges of $0.51, and a gain of $0.06 related to an extinguishment of debt.

Q1 2010 net sales were $213.9 million, an increase of 2.2 percent compared to Q1 2009.

EBITDA was $26.2 million in the first quarter of 2010, compared to $2.0 million in the first quarter of 2009.  Q1 2010 EBITDA was reduced by restructuring charges of $3.1 million.  EBITDA in Q1 2009 was reduced by $17.2 million related to restructuring charges, while a gain on extinguishment of debt improved EBITDA by $2.8 million.

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