About Albany International

Albany International Corp. engages in the machine clothing and engineered composites businesses. Segments Machine Clothing (MC) This segment supplies consumable permeable and impermeable belts used in the manufacture of paper, paperboard, tissue and towel, pulp, nonwovens, fiber cement and several other industrial applications. Within the pulp and paper industry these belts are referred to as machine clothing or paper machine clothing. In other industries, the company serves the products the company produces are generally referred to as processing belts. The company designs, manufactures, and markets paper machine clothing for each section of the paper machine and for every grade of paper. The company manufactures and sells approximately twice as much paper machine clothing worldwide than any other company. Paper machine clothing products are customized, consumable products of technologically sophisticated design that utilize polymeric materials in a complex structure. The design and material composition of paper machine clothing can have a considerable effect on the quality of paper products produced and a meaningful effect on the energy and resource efficiency of the paper machines on which it is used. Principal paper machine clothing products include forming, pressing, and drying fabrics, and process belts. A forming fabric assists in paper sheet formation and conveys the very wet sheet through the forming section. Pressing fabrics are designed to carry the sheet through the press section, where water is pressed from the sheet as it passes through the press nip. In the drying section, drying fabrics manage air movement and hold the sheet against heated cylinders to enhance drying to a final moisture content between 4 percent to 9 percent, depending on the grade. The MC segment also supplies engineered processing belts used in the manufacturing process in the pulp, corrugator, nonwovens, fiber cement, building products, and textile industries. The MC segment sells its products directly to customer end-users in countries across the globe. MC products, manufacturing processes, and distribution channels are substantially the same in each region of the world in which the company operates. On August 31, 2023, the company completed the acquisition of Heimbach GmbH (Heimbach), a privately-held manufacturer of paper machine clothing and technical textiles. Albany Engineered Composites (AEC) This segment provides highly engineered, advanced composite structures to customers in the commercial and defense aerospace industries. The segment includes Albany Safran Composites, LLC (ASC), in which the company's customer, SAFRAN Group (SAFRAN), owns a 10 percent noncontrolling interest. AEC, through ASC, is the exclusive supplier to the LEAP program of advanced composite fan blades and fan cases under a long-term supply contract. The LEAP engine is used on the Airbus A320neo, Boeing 737 MAX, and COMAC 919 aircrafts. AEC's largest aerospace customer is SAFRAN and sales to SAFRAN (consisting primarily of fan blades and cases for CFM's LEAP engine) accounted for approximately 16 percent of the company's consolidated Net revenues in 2023. Other significant AEC programs include the production of structures, parts and sub-assemblies for the Sikorsky CH-53K helicopter, F-35 fighter jet, Joint Air-to-Surface Standoff Missile (JASSM), and Boeing 787 aircraft. AEC also supplies vacuum waste tanks for most Boeing commercial aircraft, as well as the fan case for the GE9X engine. In 2023, approximately 39 percent of the AEC segment's revenues were related to U.S. government contracts or programs. International Operations The company's MC business segment maintains manufacturing facilities in Belgium, Brazil, Canada, China, France, Germany, Italy, Mexico, South Korea, Spain, Sweden, Switzerland, the United Kingdom, and the United States. MC's global manufacturing footprint is designed to most efficiently meet regional customer requirements. The company's AEC business segment maintains manufacturing facilities in the United States, France, Mexico, and Germany to meet customer demand in those regions. The company's global presence subjects it to certain risks, including tariffs and other restrictions on trade, and controls on foreign exchange and the repatriation of funds. Research and Development The company's technical and research expenses totaled $40.6 million in 2023. Intellectual Property The company's active portfolio contains over 2,300 patents, and approximately 100 new patents are typically granted each year. All brand names and product names are trade names of the company or its subsidiaries. History Albany International Corp. was founded in 1895. The company was incorporated under the laws of the state of Delaware in 1895.