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The end of the war and the return to prosperity opened up new economic possibilities for many
American firms, and Albany Felt was no exception. Parker realized that the company would need to start producing its fabrics closer to its increasingly distant customers. By 1947 extra production capacity
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At the beginning of 2011, the company officially made
Rochester its headquarters. The last production in the Menands building ended that same year. However, it took two more years for all remaining operations to be removed to Rochester. In 2012 the building was sold to a developer who has since
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on March 8, 1895. It had several advantages that gave it the confidence to enter a crowded market—an ideal location near many potential customers and Fuller's proven expertise. Most significant were the partners themselves–Selden Marvin, a local bank president who served as the company's first
860:, selling many of the acquisitions it had made not directly related to papermaking. At the same time, it modernized production within that area and increased its efficiency. Four years after going private, the shareholders voted to take the company public again. Shares traded first on the
810:. The new company was renamed Albany International. It had 6,242 employees, twice as many as Albany Felt had had before, and became the world's first company that provided fabrics for all stages of the papermaking process worldwide.
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The new company needed to first set up a plant, and space was found on
Thacher Street in northern Albany, at the corner of the Cornings' 700-acre (280 ha) family farm. By the summer of 1895, 36 workers were using seven rented
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as well, had been expanded more than once to accommodate the company's 223 employees. In 1923, the same year
Corning, who had replaced Cox as president in 1918, stepped away from the company to serve the first of six terms in the
469:(the company claims to be the largest manufacturer of felts for leather manufacture in the world). Its competitors include one other American company, Xerium Technologies, and two privately held foreign concerns, Valmet Fabrics
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of 2008 and improve its performance afterward, as it had 80 years earlier when the
Depression struck. Growth, particularly in the composites business, led management to move the company's headquarters out of the Albany area.
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was opened up in Albany, and the main building was expanded yet again to increase office space the next year. Four years later, with the company having built up a large enough customer base in Canada, it created a
Canadian
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At the same time, the company moved its headquarters back to the original building. To make room for upper management again, most production that had been going on there was instead moved to a plant across the Hudson in
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A dozen companies were already providing felt for Albany's paper mills in the early 1890s when one of them, the Albany Huyck felt mill, burned down in 1894. This left its talented superintendent, Duncan Fuller, who had
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By 1920 sales had increased to $ 2 million annually, making the company the second largest in the industry, as Albany Felt continued to serve the rapidly consolidating
American paper industry. The new plant, now
405:. In the later half of the 20th century, it began acquiring overseas firms and expanding into the composites sector. In 2013 it moved its headquarters to New Hampshire to better serve its aerospace customers.
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economy, leading to another expansion of the plant which doubled its size. Corning's focus on efficiency and expanding markets made it very easy for the company to not only survive but prosper when the
1049:. Morone said that while the division had growth opportunities, the company saw "complementarity" between it and Albany Engineered Composites that could further increase earnings in the medium term.
924:. It was merged with a Texas-based composite manufacturer in 2006. The combined companies formed the basis of Albany Engineered Composites, a growing part of the company's sales and profits today.
668:. The Thacher Street plant was at maximum capacity. Management decided to expand and purchased five acres (2.0 ha) straddling the boundary between Albany and what was at the time the
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in 1941 again increased demand as paper suppliers sought to meet new defense contracts. After
Corning's death two years later, control of the company passed to his cousin Lewis Parker.
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and, in 1954, the last expansion of the
Menands corporate headquarters building. During the next two decades, Albany Felt entered even more foreign markets in a production capacity.
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that make it still makes up the majority of the
Machine Clothing product line. Other customers for these engineered fabrics include makers of building products, such as flooring,
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Within five years that number had more than quadrupled, following continued growth in the paper industry. Albany Felt was selling its products to paper makers all over the
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in the area around the plant, giving the company the address it would be known by for decades afterward. By 1925 sales had reached $ 2.5 million with the growth of the
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opened up new markets. The company continued its strategy of acquisitions and aggressively entering new markets while increasing its own efficiency wherever possible.
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center. The company operates 18 other facilities in nine other countries. The Machine Clothing division's plants account for most of these; its textiles are made in
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aircraft engine under development. This will in turn further increase Albany Engineered Composites' position within its market. In his 2015 letter to shareholders,
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These acquisitions came with an increasing debt load. In 1983, at the behest of the largest group of shareholders, management took the company private again via a
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931:. That same year the company began a multiyear restructuring process aimed at remaining competitive in the long term. It sold noncore businesses such as its
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Despite recent declines in sales, management sees the company as progressing toward those goals. In his letter, Morone points to an increase in adjusted
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began in 1929. Within three years sales had again reached $ 2 million; in 1937 they reached $ 3 million, prompting another expansion of the plant.
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During the 1970s the company continued to grow through further acquisitions. Among these were machine-clothing companies in England, Brazil, and
845:-area research firm. Reflecting its widening focus, in 1976 management moved the company's headquarters to the nearby, recently renovated
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Corning, the only founder still alive by that time, had returned from Congress to take a more active role in the company. U.S. entry into
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Albany International has grown steadily since its founding. For over a century, it was based in the city from which it takes its name.
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developed early in the century, which could make continuous paper rolls. In order to do so, its belts needed to be clothed in special
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a new weaving method, jobless. He was soon re-employed by the three founding partners of the newly formed Albany Felt Company.
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Strategic acquisitions are also a continuing part of the company's growth strategy. In February 2016 Albany agreed to acquire
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in 2014, recognizing the fact that despite expansions it had remained unchanged architecturally since the early 20th century.
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This growth led to a major turning point in the company's history. In 1969 management found itself confronted with a
457:, still accounting for 68% of its sales in 2017. Specialized textiles that brace and dry paper as it travels through
517:, and several European countries as well as at several locations in the United States. Composites are also made in
491:
437:, the first use of structural composites in that part of a commercial airliner. Machine Clothing, headquartered in
902:. It entered the potentially vast Chinese market by first purchasing an existing machine-clothing manufacturer in
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The company describes its current strategy as "focus and lead". In more specific terms, it means making sure the
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division and Albany Door Systems, a maker of high-speed industrial doors, acquired by Swedish lockmaker
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822:. This coincided with another momentous event in the company's history—later that year, it
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In the late 19th century, much of the growing American paper industry was based along the
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in the region. It grew and prospered throughout the early 20th century, even during the
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it into apartments; the company moved its remaining operations out the year afterward.
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Corning was a member of a family prominent in Albany business and politics—his nephew,
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This article is about the company formerly based in Menands, NY. For the airport, see
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1368:"National Register of Historic Places Registration Form: Albany Felt Company Complex"
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In 2007 Albany International built its first plant in China, in the coastal city of
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processes to improve its efficiency at all levels. It was thus able to weather the
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The 1990s posed new challenges for the newly republicized Albany International.
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from its Machine Clothing division remains steady while working, through a
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in the early years of the decade squeezed customers, while the end of the
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applications to help make craft lighter, such as the main brace on the
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on the property. In 1896 the company recorded $ 27,000 in sales.
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just the year before, which makes composites used primarily in
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1731:"Albany International to Acquire Advanced Composites Business"
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The next year the company acquired Techniweave, a maker of
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Felt manufacturer based in the U.S. state of New Hampshire
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in 1987 and were once again listed on the NYSE in 1988.
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1362:. Menands, NY: Albany International Corp. pp. 1–3.
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and built a 90,000-square-foot (8,400 m) plant in
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and Machine Clothing. The former is primarily used in
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In 1972, Albany International introduced its current
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Companies listed on the New York Stock Exchange (A)
1825:Companies based in Strafford County, New Hampshire
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910:. These were accompanied by new plants in Europe.
687:The 1902 headquarters building, now listed on the
1422:Mayor Erastus Corning: Albany Icon, Albany Enigma
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1037:'s aero-structures division, itself bought from
1840:Companies listed on the New York Stock Exchange
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256:US$ 863.7 million (Net sales) (2017)
1820:Manufacturing companies based in New Hampshire
1509:
1507:
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1398:; Holtzman, Dennis; Arnold, Robert W. (1995).
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529:The company also operates research centers in
1360:Albany International: The First Hundred Years
876:1989–present: Composites and move from Albany
588:that could both brace paper and help dry it.
565:, due to the cities' proximity to the ample
1830:Manufacturing companies established in 1895
1707:. Albany International Corp. Archived from
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397:, in 1895 to make felts, serving the many
348:, is an industrial-goods company based in
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1404:. American Historical Press. p. 192.
1144:"2017 10-K for Albany International Corp"
1815:Aerospace companies of the United States
1762:Business data for Albany International:
1618:"Assa Abloy Acquires Albany Door System"
1418:
1366:Elise Johnson-Schmidt (September 2013).
1202:"787 Dreamliner Main Landing Gear Brace"
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577:. To make paper, manufacturers used the
1835:1895 establishments in New York (state)
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759:It was soon followed by a plant in the
644:were fleeced for most of the company's
1810:Textile companies of the United States
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999:, to complete its contribution to the
613:; James Cox, its first president, and
790:attempt. To fend it off, Albany Felt
1015:engines as a step toward this goal.
977:National Register of Historic Places
689:National Register of Historic Places
549:19th-century American paper industry
1551:"Acquisitions and public offerings"
290:US$ 295.8 million (2017)
23:. For its former headquarters, see
13:
1401:Albany, Capital City on the Hudson
1158:"Albany International Corp. (AIN)"
752:, its first expansion outside the
739:1947–1969: International expansion
368:industry. Its shares trade on the
14:
1856:
1754:
1681:. Albany International Corp. 2014
1598:. Albany International Corp. 2014
1553:. Albany International Corp. 2014
1526:. Albany International Corp. 2014
1481:. Albany International Corp. 2014
1339:. Albany International Corp. 2014
1295:. Albany International Corp. 2014
1273:. Albany International Corp. 2014
1251:. Albany International Corp. 2014
1229:. Albany International Corp. 2014
1204:. Albany International Corp. 2015
1182:. Albany International Corp. 2014
1115:. Albany International Corp. 2014
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1022:despite increased spending on
1:
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1085:List of S&P 600 companies
702:U.S. House of Representatives
573:, the major raw material for
413:Albany International has two
379:. It is included in both the
1705:"CEO letter to shareholders"
1227:"Albany International Today"
557:in and around the cities of
360:and textile processing; and
314:Albany Engineered Composites
21:Albany International Airport
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393:The company was founded in
25:Albany Felt Company Complex
10:
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1425:. SUNY Press. p. 49.
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342:Albany International Corp.
31:Albany International Corp.
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1047:revolving credit facility
1007:Joseph Morone pointed to
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1249:"Paper Machine Clothing"
1080:Economy of New Hampshire
1024:research and development
950:The company implemented
922:Rochester, New Hampshire
600:1895–1901: Startup years
496:research and development
488:Rochester, New Hampshire
350:Rochester, New Hampshire
160:Rochester, New Hampshire
1703:Morone, Joseph (2014).
1419:Grondahl, Paul (2007).
1005:Chief Executive Officer
832:New York Stock Exchange
814:1970–1988: Going public
767:brought the company to
707:The following year the
680:was completed in 1902.
660:1902–1946: Rapid growth
486:is outside the city of
370:New York Stock Exchange
111:; 129 years ago
1358:Skaaren, Ella (1995).
1317:. Yahoo! Finance. 2009
1160:. Yahoo! Finance. 2009
1001:CFM International LEAP
697:corporate headquarters
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625:
569:forests of the nearby
484:Corporate headquarters
449:, descending from the
214:and company secretary)
210:Charles J. Silva Jr. (
882:A worldwide recession
830:began trading on the
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431:Messier-Bugatti-Dowty
273:US$ 76.2 million
1668:Johnson-Schmidt, 18.
1574:Johnson-Schmidt, 15,
1513:Johnson-Schmidt, 13.
1452:Johnson-Schmidt, 12.
847:Henry M. Sage Estate
571:Adirondack Mountains
417:: Albany Engineered
199:A. William Higgins (
1739:. February 29, 2016
1624:. November 16, 2011
1337:"Global Operations"
1271:"Building Products"
826:. In July 1974 its
808:Nordiska Maskinfilt
800:Appleton Wire Works
750:Cowansville, Quebec
519:Salt Lake City Utah
358:paper manufacturing
346:Albany Felt Company
296:Number of employees
239:Composite materials
172:Number of locations
157:216 Airport Drive,
48:Albany Felt Company
32:
1479:"Global Expansion"
975:was listed on the
956:lean manufacturing
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617:, vice president.
465:, and carpet, and
109:March 8, 1895
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1648:AllOverAlbany.com
1315:"AIN Competitors"
1113:"Getting Started"
624:Corning, ca. 1910
344:, originally the
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854:leveraged buyout
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754:Capital District
726:Great Depression
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678:The new facility
604:The company was
527:Commercy France.
492:Skyhaven Airport
403:Great Depression
395:Albany, New York
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1679:"Our Strategy"
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1650:. May 18, 2012
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435:787 Dreamliner
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1736:BusinessWire
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1709:the original
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1499:Skaaren, 14.
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1035:Harris Corp.
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555:Hudson River
552:
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523:Boerne Texas
482:
459:the machines
427:landing gear
412:
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385:Russell 2000
376:
364:used in the
345:
341:
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154:Headquarters
146:James W. Cox
88:Russell 2000
53:Company type
1782:SEC filings
1461:Skaaren, 7.
1364:, cited at
973:The complex
900:South Korea
824:went public
777:Netherlands
773:Scandinavia
579:Fourdrinier
575:papermaking
515:South Korea
475:Asahi Kasei
443:Switzerland
399:paper mills
381:S&P 600
356:for use in
182:Area served
82:S&P 600
1804:Categories
1180:"About us"
1091:References
937:Assa Abloy
933:filtration
918:composites
806:feltmaker
746:subsidiary
537:, Sweden.
419:Composites
372:under the
362:composites
280:Net income
192:Key people
116:1895-03-08
1767:Bloomberg
1293:"Tannery"
1043:airframes
989:cash flow
969:converted
952:Six Sigma
941:PrimaLoft
939:in 2011.
915:aerospace
904:Guangzhou
796:Wisconsin
781:Australia
761:Southeast
666:Northeast
611:secretary
439:Neuhausen
423:aerospace
415:divisions
366:aerospace
306:Divisions
201:president
186:Worldwide
90:component
84:component
77:(Class A)
65:Traded as
1743:March 4,
1715:March 4,
1685:March 1,
1654:March 3,
1628:March 3,
1602:March 3,
1557:March 1,
1530:March 1,
1485:March 1,
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1343:March 2,
1321:March 3,
1299:March 2,
1277:March 2,
1255:March 2,
1233:March 2,
1208:March 2,
1186:March 1,
1164:March 1,
1119:March 1,
1053:See also
945:spun off
929:Hangzhou
886:Cold War
834:(NYSE).
594:patented
567:softwood
535:Halmstad
531:SĂ©lestat
463:shingles
433:for the
409:Overview
383:and the
229:Products
129:Founders
98:Industry
45:Formerly
1777:Reuters
896:Chungju
804:Swedish
713:Menands
709:village
674:Colonie
638:capital
630:Erastus
541:History
490:, near
478:Spandex
467:tanners
326:Website
248:Revenue
114: (
106:Founded
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1787:Yahoo!
1772:Google
1429:
1039:Exelis
1020:EBITDA
997:Safran
983:Future
862:NASDAQ
843:Boston
839:Norway
828:shares
792:merged
779:, and
559:Albany
525:, and
511:Mexico
503:Canada
500:Brazil
331:albint
57:Public
1371:(PDF)
995:with
794:with
654:looms
586:felts
507:China
451:felts
354:felts
1745:2016
1717:2016
1687:2016
1656:2016
1630:2016
1604:2016
1559:2016
1532:2016
1487:2016
1440:2016
1427:ISBN
1379:2016
1345:2016
1323:2016
1301:2016
1279:2016
1257:2016
1235:2016
1210:2016
1188:2016
1166:2016
1121:2016
1013:GE9X
954:and
892:Asia
820:logo
715:was
670:town
646:wool
634:Yale
563:Troy
561:and
473:and
333:.com
203:and
71:NYSE
920:in
906:'s
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711:of
672:of
377:AIN
219:CFO
205:CEO
120:in
75:AIN
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