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About Albany International Corp
Albany International Corp (NYSE: AIN) is a global leader in advanced textiles and materials processing, operating at the intersection of industrial manufacturing and aerospace innovation. Headquartered in Rochester, New Hampshire, the company has a global footprint with 18 manufacturing plants across 11 countries, enabling it to serve customers worldwide with localized expertise and operational efficiency.
Core Business Segments
1. Machine Clothing (MC)
Albany International’s Machine Clothing segment is the world’s foremost producer of custom-designed fabrics and belts essential for production processes in industries such as paper manufacturing, nonwovens, and other continuous process industries. With an estimated 30% global market share—double that of its nearest competitor—MC is a cornerstone of Albany’s business, offering high-margin, recurring revenue streams. The segment’s products are critical to optimizing efficiency, durability, and performance in industrial operations, making Albany International an indispensable partner for its customers.
2. Albany Engineered Composites (AEC)
The Albany Engineered Composites segment focuses on the design and manufacture of advanced composite components for the aerospace industry. AEC is a key supplier to the CFM LEAP engine program, providing highly engineered composite fan blades, fan cases, and other components. These lightweight, durable materials are crucial for improving fuel efficiency and reducing emissions in next-generation commercial aircraft. AEC’s integration into the aerospace supply chain positions it as a vital player in the industry, with significant growth potential as production rates for the LEAP engine program scale to meet global demand.
Market Position and Competitive Landscape
Albany International’s dual focus on industrial textiles and aerospace composites positions it uniquely in its markets. The MC segment benefits from high barriers to entry due to its specialized technology and long-standing customer relationships, while the AEC segment operates in a high-growth, innovation-driven industry with substantial opportunities for expansion. Competitors in the MC space include other industrial textile manufacturers, whereas AEC faces competition from aerospace composite producers. Albany differentiates itself through its technological leadership, global manufacturing capabilities, and deep integration into critical supply chains.
Global Reach and Operational Excellence
With operations spanning North America, Europe, South America, and Asia, Albany International leverages its global presence to serve a diverse customer base. Its 18 manufacturing plants in 11 countries ensure localized production and supply chain efficiency, enabling the company to adapt to regional market dynamics while maintaining consistent quality standards. This global footprint also provides resilience against market fluctuations and supply chain disruptions.
Strategic Vision
Albany International’s strategic vision is rooted in leveraging its expertise in advanced materials to drive innovation and value creation across its core markets. By maintaining leadership in the mature MC segment and scaling its presence in the high-growth aerospace composites market, the company aims to deliver sustainable, long-term growth while addressing critical industry challenges such as efficiency, sustainability, and performance optimization.
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.
Albany International Corp. (NYSE: AIN) has appointed Christina M. Alvord to its Board of Directors. Alvord, aged 54, has significant experience in manufacturing, including leadership roles at Vulcan Materials Company and GE Aviation. Her expertise in lean manufacturing and talent management is expected to enhance the company’s operations, especially in the Albany Engineered Composites segment. Albany International is a major player in engineered components for both the aerospace and paper production industries.
Albany International Corp. (NYSE:AIN) will announce its 2021 full-year and fourth-quarter financial results on February 15, 2022, after market close. A webcast to discuss the results will take place at 9:00 a.m. Eastern Time on February 16. Interested parties can join via the company's Investor Relations website or by calling 1-877-692-8955. A replay of the webcast will be available around noon Eastern Time on the same day. Albany International specializes in engineered components for various industries, including paper and aerospace.
The Board of Directors of Albany International (NYSE: AIN) has announced a quarterly dividend of $0.21 per share on its Class A and Class B Common Stock. This dividend is payable on January 10, 2022, to shareholders of record on December 28, 2021. Albany International is a leader in engineered components for various industries, notably in machine clothing and advanced materials for aerospace applications, with operations in 11 countries and over 4,000 employees.
Albany International Corp. (NYSE: AIN) and Safran Aircraft Engines have extended their partnership until 2046 to develop next-generation aircraft engines. This collaboration aims to support the aviation industry's commitment to achieving net-zero CO2 emissions by 2050. Initiated in 2006, their joint efforts have led to significant innovations, such as the advanced 3D-woven composite technology used in the LEAP engine. With three production plants established, they have delivered over 130,000 LEAP engine parts, reflecting their commitment to sustainability and improved fuel efficiency.
Albany International Corp. (NYSE: AIN) reported a strong third quarter for 2021, with revenues of $232.4 million, marking a 9.6% increase compared to the previous year. The company's gross profit rose to $92 million, a 5.4% increase. Operating income increased by 15% to $44.5 million. The firm raised its full-year guidance, expecting 2021 revenues between $900 and $920 million. In a strategic move, the Board authorized a $200 million share repurchase program to enhance shareholder returns. However, elevated tax rates and inflationary risks remain as challenges.
Albany International Corp. (NYSE:AIN) is set to announce its third-quarter financial results for 2021 on October 25, 2021, after market close. A webcast for discussing these results will occur on October 26, 2021, at 9:00 a.m. ET. Interested investors can access the webcast through the Company’s Investor Relations website or dial in at 1-(844) 291-6362 with the access code 8796723. Albany International specializes in engineered components for various industries, operating 23 facilities globally and employing around 4,000 staff.
Albany International Corp. (NYSE: AIN) CFO Stephen Nolan is scheduled to speak at the Sidoti Virtual Smallcap Conference on Wednesday, September 22, 2021, at 10:00 a.m. ET. Investors can tune into the live webcast on Albany's Investor Relations website, with a replay available for 90 days post-event. Albany International, headquartered in Rochester, New Hampshire, specializes in engineered components for various industries, notably machine clothing and advanced aerospace materials, operating 23 facilities across 11 countries.
The Board of Directors of Albany International Corp. (NYSE: AIN) has declared a quarterly dividend of $0.20 per share on its Class A and Class B Common Stock. This dividend is payable on October 7, 2021, to shareholders of record on September 7, 2021. Albany International is a prominent developer and manufacturer of engineered components, with significant operations in machine clothing and engineered composites, supporting various commercial and military applications.
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