Albany International Selected by Sikorsky to Produce CH-53K Aft Transition, Adding to Its Share on The Program

Rhea-AI Summary

Albany International Corp. (NYSE: AIN) announced that its subsidiary, Albany Engineered Composites (AEC), has secured a long-term agreement with Sikorsky Aircraft to produce the CH-53K Aft Transition assembly. This competitively bid contract spans ten years, covering Lots 7 through 14, with long-lead funding already commenced. The contract is expected to be finalized in Q1 2022, with initial deliveries scheduled for 2023. AEC aims to enhance fuel efficiency and environmental sustainability through its advanced engineered composite components.

Positive

• Secured a 10-year long-term agreement with Sikorsky Aircraft.
• Long-lead funding is already in progress to support production.
• Contract expected to be finalized in Q1 2022 with first deliveries in 2023.

Negative

• None.

ROCHESTER, N.H.--(BUSINESS WIRE)-- Albany International Corp. (NYSE: AIN) announced today that its subsidiary Albany Engineered Composites (AEC) has been selected by Sikorsky Aircraft to produce the complete CH-53K Aft Transition assembly in a competitively bid 10-year long term agreement (LTA) covering Lots 7 through 14. Long-lead funding is already underway to support the schedule and the contract is expected to be finalized in the first quarter of 2022 with first deliveries in 2023.

“We are tremendously excited and honored to be adding this significant additional content to our current production of Sponsons and Tail Rotor Pylon assemblies for the world’s preeminent next generation heavy lift helicopter,” said Greg Harwell, AEC President. “This agreement signifies the successful and growing relationship between Sikorsky and Albany.”

AEC designs and manufactures advanced engineered composite components for engine and airframe applications for commercial and military aircraft, missiles and unmanned vehicles, and for renewable energy creation and distribution. AEC’s specialty composite solutions enable current and next-generation aircraft to perform better while being more fuel-efficient, cost-effective, and environmentally-friendly.

About Albany International Corp.

Albany International is a leading developer and manufacturer of engineered components, using advanced materials processing and automation capabilities, with two core businesses. Machine Clothing is the world’s leading producer of fabrics and process belts used in the manufacture of all grades of paper products. Albany Engineered Composites is a growing designer and manufacturer of advanced materials-based engineered components for jet engine and airframe applications, supporting both commercial and military platforms. Albany International is headquartered in Rochester, New Hampshire, operates 23 plants in 11 countries, employs more than 4,100 people worldwide, and is listed on the New York Stock Exchange (Symbol AIN). Additional information about the Company and its products and services can be found at www.albint.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220214005790/en/

John Hobbs

603-330-5897

john.hobbs@albint.com

Source: Albany International Corp.

FAQ

What is the long-term agreement announced by Albany International Corp. regarding Sikorsky Aircraft?

Albany International's subsidiary, Albany Engineered Composites (AEC), secured a 10-year long-term agreement with Sikorsky Aircraft to produce the CH-53K Aft Transition assembly.

When is the contract with Sikorsky Aircraft expected to be finalized?

The contract is expected to be finalized in the first quarter of 2022.

What are the expected delivery dates for the CH-53K Aft Transition assembly?

The first deliveries are scheduled for 2023.

What does Albany Engineered Composites (AEC) specialize in?

AEC specializes in designing and manufacturing advanced engineered composite components for aircraft and renewable energy applications.

How does Albany International Corp. contribute to environmental sustainability?

Albany International's engineered composite components are designed to enhance fuel efficiency and reduce environmental impact.