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Albany International Corp., along with its various subsidiaries, specializes in the realm of textile and advanced materials processing. The company's operations are distinctly divided into two primary segments: Machine Clothing (MC) and Albany Engineered Composites (AEC). The MC division is responsible for the design, production, and distribution of specialized paper machine clothing, essential for the manufacturing of diverse paper products such as papers, paperboards, tissues, and towels. Beyond this, MC provides a range of technical textiles including forming, pressing, and drying fabrics…
ROCHESTER, N.H.--(BUSINESS WIRE)--Albany Engineered Composites, a segment of Albany International Corp. (NYSE: AIN), announced today it reached an agreement with Boeing (NYSE: BA) to continue composite fuselage frame manufacturing for the 787 Dreamliner. Under the agreement, Albany continues to manufacture about 300 unique composite fuselage frames for the 787 Dreamliner, including forward sections 41 and 43 and aft section 47. Albany has produced composite fuselage frames for Sections 41 and 4.
Albany International NYSE: AIN said it has completed its strategic review and will retain its Amelia Earhart Drive structures assembly facility in Salt Lake City after reaching an amended agreement with Sikorsky on the CH-53K program.
Albany International Corp. (AIN) Discusses Outcome of Strategic Review and Amended CH-53K Contract for Structures Assembly Business Transcript
PORTSMOUTH, N.H.--(BUSINESS WIRE)--Albany International Corp. (NYSE:AIN) today announced the completion of the strategic review of its Amelia Earhart Drive facility in Salt Lake City, Utah. Following new business wins, a renegotiated Boeing 787 contract for one-piece composite fuselage frames, and new contract terms with Sikorsky, a Lockheed Martin Company, on the CH-53K® program, Albany will retain the facility and end the previously announced strategic review. Under the new agreement with Sik.
PORTSMOUTH, N.H.--(BUSINESS WIRE)--Albany International Corp. (NYSE: AIN) today announced that Willard Station, Executive Vice President and Chief Financial Officer, is taking a medical leave of absence. The Albany International Board of Directors has appointed Sean Valashinas, the Company's Controller and Chief Accounting Officer, as acting CFO, effective immediately. Prior to joining the Company in 2025, Mr. Valashinas served as Vice President, Accounting, Treasury, and Tax at Resonetics, a l.