Albany Int'l (AIN) to Discontinue Menasha Ops; Will Affect 48 Positions
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Albany International Corp. (NYSE: AIN) will discontinue manufacturing at its forming fabric facility in Menasha, Wisconsin. This action results from the need to balance the Company’s paper machine clothing manufacturing capacity in North America with anticipated long-term demand.
The closure will begin in January 2012. This planned action is a business necessity, driven by existing and expected market conditions, and in no way reflects on the performance of the 48 affected employees, who will be offered severance and outplacement assistance.
The Company’s Menasha facility will continue to operate as a center of excellence in forming technology and as one of the organization’s R&D centers.
The closure will begin in January 2012. This planned action is a business necessity, driven by existing and expected market conditions, and in no way reflects on the performance of the 48 affected employees, who will be offered severance and outplacement assistance.
The Company’s Menasha facility will continue to operate as a center of excellence in forming technology and as one of the organization’s R&D centers.
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