4th Sep 2023
Albany International has finalised its purchase of Heimbach Group for €132 million in cash, along with an assumed net debt of €22 million. Based in Duren, Germany, Heimbach supplies paper machine clothing and high-tech textiles to various industries. Daniel Halftermeyer highlighted the potential for increased value for shareholders and customers.
21st Jun 2023
Albany Engineered Composites (AEC), a subsidiary of Albany International, has delivered its first components for the Airbus Wing Box Assembly demonstrator programme. The collaboration is part of AEC's efforts to develop sustainable manufacturing technologies for next-gen aircraft. The company aims to be a preferred partner to aerospace OEMs and Tier...
16th Jun 2023
Albany International is set to acquire Heimbach Group in an all-cash transaction valued at approximately €153 million. The acquisition will enhance Albany's scale, technology, and geographic footprint, allowing them to better serve markets in Europe and Asia. The deal is expected to close in the second half of 2023, subject to regulatory approvals.
27th Jul 2021
Albany International, a US-based manufacturer of engineered components, has reported 4 per cent sales growth to $234.5 million in second quarter (Q2) of FY21 ended on June 30, 2021, compared to $225.9 million in the corresponding period of prior fiscal. The Engineered Composites segment's sales marginally improved to $74.6 million ($72.5 million).
30th Oct 2020
Albany International Corp, a global advanced textiles and materials processing company, reported 21.8 per cent sales decline to $211.9 million in its third quarter (Q3) FY20 ended on September 30, 2020 compared to $271.1 million in same period last year. Net income attributable to the company for the quarter were $29.5 million (Q3 FY19: $40.0 million).
30th Jul 2020
Albany International’s subsidiary Albany Engineered Composites (AEC) has reached agreement with Boeing to renew and expand its composite fuselage frame content for 787 Dreamliner. AEC will now manufacture composite fuselage frames for portion of aft section of the aircraft (section 47) adding to forward sections (41 and 43) it has been making since...
30th Jul 2020
Albany International Corp, a global advanced textiles and materials processing company, has reported 17.5 per cent sales decline to $225.9 million in its second quarter (Q2) FY20 ended on June 30, 2020 compared to $273.9 million in same period last year. Net income attributable to the company for the quarter were $32.3 million (Q2 FY19: $34.0 million).
7th Apr 2020
Albany International, a manufacturer of engineered components, announced that in early March, the company formed a Covid-19 Task Force to help protect the health and safety of employees and suppliers. Company’s Machine Clothing (MC) operations worldwide are operational and continue to supply products to its global customer of pulp and paper...
11th Mar 2020
Albany Engineered Composites (AEC), subsidiary of Albany International, has got a contract with Lockheed Martin to produce composite wing skins on an automated fibre placement machine at its Salt Lake City operations. AEC is producing wing skins for the F-35A (CTOL variant) of the Lightning II fighter jet. Delivery of wing skins has begun in January.
24th Jan 2020
Albany International, a manufacturer of engineered components, has announced that its board of directors has appointed A William Higgins as president & CEO, to succeed Olivier Jarrault, who resigned by mutual agreement. Erkie Kailbourne, who currently serves as director, will return to his role as chairman of board of directors, succeeding Higgins.