Exhibit 99.1
Albany International Announces Planned Personnel Reduction in Europe
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Albany, New York, November 20, 2008 - Wurttembergische Filztuchfabrik D.
Geschmay GmbH, an affiliate of Albany International Corp. (NYSE:AIN), announced
today its intention to reduce personnel at its facility in Goppingen, Germany.
The personnel reduction is the result of the continuing consolidation of
customers in Europe and the need to balance the Company's paper machine clothing
manufacturing capacity in Europe with anticipated paper mill demand. Similar
steps have been taken by the Company over the last few years in both Europe and
North America, as the global paper and paperboard industry continues to shift
capacity from traditional paper markets to new emerging markets.
The reduction is subject to review under local law and will be implemented
in accordance with such law and in consultation with the Works Council.
The planned action at Goppingen in no way reflects on the performance of
the affected employees; it is a business necessity, driven by the existing and
anticipated market conditions. The reduction of personnel is expected to become
effective by March 31, 2009.
Albany International is a global advanced textiles and materials
processing company. Its core business is the world's leading producer of
custom-designed fabrics and belts essential to the production of paper and
paperboard. Albany's family of emerging businesses extends its advanced textiles
and materials capabilities into a variety of other industries, most notably
aerospace composites, nonwovens, building products, and high-performance
industrial doors. Additional information about the Company and its businesses
and products is available at www.albint.com.
Contacts:
Investors:
John Cozzolino, Vice President of Strategic Planning
518-445-2281
john.cozzolino@albint.com
Media:
Susan Siegel, Director of Corporate Communications
518-445-2284
susan.siegel@albint.com