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May 5, 2008

Albany International to Sell Filters Business

Albany International Corp., Albany, NY, has agreed to sell its global Albany Filtration Technologies business to All Filtration Technologies Australia Pty Ltd. for $45 million.
 
The buyer will acquire Albany’s equity ownership of Albany International Applied Technology (Suzhou) Co., Ltd., as well as the remaining AFT business assets, most of which are in Australia.
 
The company also announced that it would consolidate its press and fiber cement operations in Gosford.
 
In addition, the company announced it would shut down its door manufacturing operation in West Gosford.
 
Albany International is a global advanced textiles and materials processing company with 6,100 employees worldwide. The company’s core business is custom-designed fabrics and belts essential to the production of paper and paperboard.

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