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Albany International

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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. 651:
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
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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
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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 735:
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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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
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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 1367: 987:
The company describes its current strategy as "focus and lead". In more specific terms, it means making sure the
1478: 1143: 1523: 1708: 701: 1226: 1084: 894:, where the company had no previous presence, was the first target. Albany International opened a plant in 640:. His father put up most of the company's initial $ 40,000 in cash, and the family's prize-winning herd of 593: 81: 20: 1270: 849:, nearby in Menands. Production and lower-level management activities continued at the original building. 1781: 972: 677: 200: 24: 1595: 935:
division and Albany Door Systems, a maker of high-speed industrial doors, acquired by Swedish lockmaker
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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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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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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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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 1565: 1194: 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 1329: 1801: 1610: 1263: 1037:'s aero-structures division, itself bought from 1840:Companies listed on the New York Stock Exchange 1285: 1150: 256:US$ 863.7 million (Net sales) (2017) 1820:Manufacturing companies based in New Hampshire 1509: 1507: 1505: 1398:; Holtzman, Dennis; Arnold, Robert W. (1995). 1221: 1219: 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 1671: 1502: 1216: 1138: 1136: 1134: 1132: 1130: 599: 1493: 813: 659: 397:, in 1895 to make felts, serving the many 348:, is an industrial-goods company based in 1455: 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" 1127: 682: 619: 577:. To make paper, manufacturers used the 1835:1895 establishments in New York (state) 1357: 1172: 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 1802: 1702: 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 1059: 286: 285: 269: 268: 252: 251: 36: 1030:in the U.S., U.K., and Canada. 445:, is the company's traditional 1406:, cited at Johnson-Schmidt, 11 1022:despite increased spending on 1: 1090: 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 7: 1052: 408: 393:The company was founded in 25:Albany Felt Company Complex 10: 1861: 1425:. SUNY Press. p. 49. 540: 342:Albany International Corp. 31:Albany International Corp. 18: 1047:revolving credit facility 1007:Joseph Morone pointed to 982: 325: 304: 294: 277: 260: 247: 228: 190: 180: 170: 153: 128: 105: 97: 62: 52: 44: 35: 1845:Rochester, New Hampshire 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 691: 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 686: 623: 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 692: 626: 617:, vice president. 465:, and carpet, and 109:March 8, 1895 30: 1648:AllOverAlbany.com 1315:"AIN Competitors" 1113:"Getting Started" 624:Corning, ca. 1910 344:, originally the 339: 338: 300:4,400 (2017) 1852: 1749: 1748: 1746: 1744: 1727: 1721: 1720: 1718: 1716: 1711:on March 6, 2016 1700: 1691: 1690: 1688: 1686: 1675: 1669: 1666: 1660: 1659: 1657: 1655: 1640: 1634: 1633: 1631: 1629: 1622:Locksmith Ledger 1614: 1608: 1607: 1605: 1603: 1596:"Transformation" 1592: 1575: 1572: 1563: 1562: 1560: 1558: 1547: 1536: 1535: 1533: 1531: 1520: 1514: 1511: 1500: 1497: 1491: 1490: 1488: 1486: 1475: 1462: 1459: 1453: 1450: 1444: 1443: 1441: 1439: 1416: 1407: 1405: 1392: 1383: 1382: 1380: 1378: 1372: 1363: 1355: 1349: 1348: 1346: 1344: 1333: 1327: 1326: 1324: 1322: 1311: 1305: 1304: 1302: 1300: 1289: 1283: 1282: 1280: 1278: 1267: 1261: 1260: 1258: 1256: 1245: 1239: 1238: 1236: 1234: 1223: 1214: 1213: 1211: 1209: 1198: 1192: 1191: 1189: 1187: 1176: 1170: 1169: 1167: 1165: 1154: 1148: 1147: 1146:. 16 March 2019. 1140: 1125: 1124: 1122: 1120: 1109: 1069: 1067:Companies portal 1064: 1063: 1062: 1009:General Electric 854:leveraged buyout 788:hostile takeover 754:Capital District 726:Great Depression 721:Roaring Twenties 678:The new facility 604:The company was 527:Commercy France. 492:Skyhaven Airport 403:Great Depression 395:Albany, New York 335: 332: 318:Machine Clothing 315: 289: 288: 272: 271: 263:Operating income 255: 254: 235:Machine clothing 122:Albany, New York 119: 117: 112: 101:Industrial goods 40: 33: 29: 1860: 1859: 1855: 1854: 1853: 1851: 1850: 1849: 1800: 1799: 1795:Company website 1791: 1757: 1752: 1742: 1740: 1729: 1728: 1724: 1714: 1712: 1701: 1694: 1684: 1682: 1677: 1676: 1672: 1667: 1663: 1653: 1651: 1642: 1641: 1637: 1627: 1625: 1616: 1615: 1611: 1601: 1599: 1594: 1593: 1578: 1573: 1566: 1556: 1554: 1549: 1548: 1539: 1529: 1527: 1524:"Turning Point" 1522: 1521: 1517: 1512: 1503: 1498: 1494: 1484: 1482: 1477: 1476: 1465: 1460: 1456: 1451: 1447: 1437: 1435: 1433: 1417: 1410: 1393: 1386: 1376: 1374: 1370: 1356: 1352: 1342: 1340: 1335: 1334: 1330: 1320: 1318: 1313: 1312: 1308: 1298: 1296: 1291: 1290: 1286: 1276: 1274: 1269: 1268: 1264: 1254: 1252: 1247: 1246: 1242: 1232: 1230: 1225: 1224: 1217: 1207: 1205: 1200: 1199: 1195: 1185: 1183: 1178: 1177: 1173: 1163: 1161: 1156: 1155: 1151: 1142: 1141: 1128: 1118: 1116: 1111: 1110: 1097: 1093: 1065: 1060: 1058: 1055: 985: 960:Great Recession 878: 841:, as well as a 816: 741: 662: 642:Southdown sheep 602: 551: 543: 411: 329: 321: 313: 297: 282: 265: 243: 224: 217:Stephen Nolan ( 212:general counsel 193: 183: 173: 166: 162: 149: 124:, United States 115: 113: 110: 93: 67: 28: 17: 12: 11: 5: 1858: 1848: 1847: 1842: 1837: 1832: 1827: 1822: 1817: 1812: 1798: 1797: 1792: 1790: 1789: 1784: 1779: 1774: 1769: 1763: 1760: 1756: 1755:External links 1753: 1751: 1750: 1722: 1692: 1679:"Our Strategy" 1670: 1661: 1650:. 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Index

Albany International Airport
Albany Felt Company Complex
The word "Albany" in bolded sans-serif capitals of even stroke weight, with the right leg of the "A" becoming a descender, forming the diagonal of the "N", in the word "International" below, oblique in a much more lightweight stroke. Both words are rendered in dark blue.
Public
Traded as
NYSE
AIN
S&P 600
Russell 2000
Albany, New York
Parker Corning
Rochester, New Hampshire
president
CEO
general counsel
CFO
Composite materials
Operating income
Net income
Divisions
albint.com
Rochester, New Hampshire
felts
paper manufacturing
composites
aerospace
New York Stock Exchange
ticker symbol
S&P 600
Russell 2000

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