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) May 8, 2008
ALBANY INTERNATIONAL CORP.
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(Exact name of registrant as specified in its charter)
Delaware 1-10026 14-0462060
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
1373 Broadway, Albany, New York 12204
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (518) 445-2200
None
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(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 8.01. Other Events.
Albany International Corp. (the "Company") issued a news release on May 4, 2008
announcing an agreement to sell its global Albany Filtration Technologies
("AFT") business and plans to reduce manufacturing capacity in Australia. The
sale of AFT will be to All Filtration Technologies Australia Pty Ltd. for $45
million, subject to contractual closing adjustments. The reduction of
manufacturing capacity in Australia includes the consolidation of press and
fiber cement operations and the shutdown of high-performance door manufacturing.
These actions are part of an ongoing, company-wide effort to streamline
operations in order to efficiently balance the Company's manufacturing capacity
with demand.
Discussions with labor representatives are expected to begin shortly. Until they
are concluded, the Company is unable reasonably to estimate the costs expected
to be incurred in connection with these plans. The Company will disclose the
amount, type and timing of these costs promptly after they are determined.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
99.1 News Release dated May 4, 2008.
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/ Michael C. Nahl
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Name: Michael C. Nahl
Title: Executive Vice President and
Chief Financial Officer
Date: May 4, 2008
EXHIBIT INDEX
Exhibit No. Description
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99.1 News Release dated May 4, 2008