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Albany Int'l To Revamp Machine Clothing Operations In Europe, Cut 54 Jobs

Albany International Corp. (AIN) said that its subsidiary, Albany International France S.A.S. has initiated talks with the employee Works Council regarding a proposal to restructure operations at the company's Machine Clothing production facilities in Sélestat, France. The proposed restructuring would result in the workforce being reduced by about 54 positions.

According to Albany, consultations with the Works Council will be completed in accordance with applicable French legislation.

The company noted that Machine Clothing market conditions in Europe have continued to decline since an earlier restructuring in 2013. That restructuring, which resulted in reduced employment in the Sélestat location, was intended to improve the viability of both the Sélestat and St. Junien operations.

However, despite the best efforts and good faith of all parties, conditions globally, and especially in the European market supported by these locations, have continued to decline even further since 2012, leading to the current proposal. Global Machine Clothing sales decreased 16 percent to $582 million in 2016 from $693 million in 2012.

President and CEO Joseph Morone said, "While we had hoped that the 2013 actions would represent the last step in this global restructuring process, continued deterioration in the market for publication paper grades has driven the need for further restructuring in order to maintain Albany's ability to compete in the markets we continue to serve."

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

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