$AIN (Albany International Corp.)

$AIN {{ '2016-02-29T17:04:23+0000' | timeago}} • Announcement

Advanced textiles & materials processing company $AIN said that its has agreed to acquire $HRS' composite aero-structures division for $210MM, including the assumption of 23MM capital lease. $AIN will use existing cash on hand & its revolving credit facility to finance the deal, which is expected to be completed by 1Q16-end or early 2Q16.

$AIN {{ '2017-12-15T15:59:05+0000' | timeago}} • Announcement

Textile processing company $AIN has declared a quarterly dividend of $0.17 per share on its common stock. The dividend is payable on January 8, 2018, to shareholders of record on December 26, 2017.

$AIN {{ '2017-10-05T12:28:16+0000' | timeago}} • Announcement

$AIN unit Albany International France S.A.S. has initiated discussions to restructure operations at its Machine Clothing production facilities in Sélestat, France. The proposed restructuring would reduce employment by about 54 positions.

$AIN {{ '2017-08-31T16:27:02+0000' | timeago}} • Announcement

$AIN's BoD declared a quarterly dividend of $0.17 per share on its Class A and Class B Common Stock. The dividend is payable on Oct. 6, 2017, to shareholders of record on Sept. 11, 2017.

$AIN {{ '2017-08-02T15:38:17+0000' | timeago}} • Announcement

$AIN has announced that its President and CEO Joseph Morone will retire in 2018. The BoD has instituted a CEO search to consider candidates to succeed Morone, who will continue to serve as CEO until his successor is in place. He will remain on the Board for an appropriate period to support the transition. Morone was the CEO for the past 11 years.

$AIN {{ '2017-07-14T11:53:56+0000' | timeago}} • Announcement

$AIN said it expects to record a pre-tax charge of about $16MM in 2Q17,  associated with revisions in the estimated profitability of two contracts. The charge will be included in 'Cost of Goods Sold' for the company’s AEC segment. Albany will release its 2Q17 financial results on August 1, 2017.

$AIN {{ '2017-05-12T13:58:39+0000' | timeago}} • Announcement

$AIN's BoD declared a quarterly dividend of $0.17 per share on the company’s Class A and Class B Common Stock. The dividend is payable on July 10, 2017, to shareholders of record on June 7, 2017.

$AIN {{ '2017-02-27T15:34:18+0000' | timeago}} • Announcement

$AIN BoD declared a quarterly dividend of $0.17 per share on the company's Class A and Class B Common Stock, payable on April 7, 2017, to shareholders of record as on March 20, 2017.

$AIN {{ '2016-12-16T15:45:48+0000' | timeago}} • Announcement

The Board of Directors of $AIN declared a quarterly dividend of $0.17 per share on the company’s Class A and Class B common stock, payable on January 9, 2017, to shareholders of record on December 27, 2016.

$AIN {{ '2016-12-15T20:10:15+0000' | timeago}} • Announcement

$AIN said it elected Kenneth W. Krueger to its BoD. Ken has extensive experience in senior operations positions at publicly traded companies, including those with significant global manufacturing operations.

$AIN {{ '2016-09-26T11:39:22+0000' | timeago}} • Announcement

$AIN Chairman Emeritus Spencer Standish died on Sept. 22, at the age of 91. He rose through the ranks to Division President, Vice Chairman, and, in 1984, Chairman, a position he held until his retirement in 1998, when he was named Chairman Emeritus and was succeeded on the BoD by his son John Standish and daughter, Christine Standish.

$AIN {{ '2016-09-09T18:09:53+0000' | timeago}} • Announcement

Textiles and materials processing company $AIN said that its Board of Directors declared a quarterly dividend of $0.17 per share on the company's Class A and Class B Common Stock. This dividend is payable on Oct. 7, 2016, to shareholders of record on Sept. 20, 2016.

$AIN {{ '2016-09-08T18:01:30+0000' | timeago}} • Announcement

Global advanced textiles and materials processing company $AIN announced that William Higgins has been elected to its BoD. William Higgins currently serves as a Director of Kaman Corporation.

$AIN {{ '2016-05-13T12:55:15+0000' | timeago}} • Announcement

Global advanced textiles and materials processing company $AIN said its BoD declared a quarterly dividend of $0.17 per share on the companyâ??s Class A and Class B Common Stock, payable on July 8, 2016, to shareholders of record on June 7, 2016.

$AIN {{ '2016-04-08T14:34:24+0000' | timeago}} • Announcement

$HRS said it completed sale of its Aerostructures business to $AIN for enterprise value of $210MM, including $187MM in cash at closing and assumption of $23MM capitalized lease. Proceeds from transaction will be used to pay down debt. The business had CY15 revenue of $77MM and operated in two facilities in Salt Lake City, Utah.

$AIN {{ '2016-04-08T14:31:34+0000' | timeago}} • Announcement

Textile processing company $AIN said it has completed the acquisition of Harris Corporation's composite aerostructures division. The acquisition is projected to be slightly accretive to $AIN's earnings in 2016, with projected 2016 sales in the $80-90MM range and adjusted EBITDA in the $13-15MM range.

$AIN {{ '2016-02-29T17:04:23+0000' | timeago}} • Announcement

Advanced textiles & materials processing company $AIN said that its has agreed to acquire $HRS' composite aero-structures division for $210MM, including the assumption of 23MM capital lease. $AIN will use existing cash on hand & its revolving credit facility to finance the deal, which is expected to be completed by 1Q16-end or early 2Q16.

$AIN {{ '2016-02-29T15:50:01+0000' | timeago}} • Announcement

$AIN's sales are expected to exceed $200MM by 2020, and Adjusted EBITDA margins could approach 20% by 2020, assuming good execution and no significant slippage in program schedules. Estimated return on invested capital for acquisition is likely to exceed current cost of capital by 2018 and reach double-digits by 2020.

$AIN {{ '2016-02-29T15:45:57+0000' | timeago}} • Announcement

$AIN said it will use existing cash on hand and its revolving credit facility to finance transaction. $AIN expects to create additional borrowing capacity by increasing its existing revolving credit facility from $400MM to $550MM prior to closing of transaction.

$AIN {{ '2016-02-29T15:42:59+0000' | timeago}} • Announcement

$AIN said it agreed to buy $HRS' composite aero-structures division for total consideration of $210MM including assumption of $23MM capital lease. The acquisition is projected to be slightly add to $AIN earnings in 2016, with projected 2016 sales of $80-90MM and Adjusted EBITDA of $13-15MM. The deal will close by end of 1Q16 or early 2Q16.

$AIN {{ '2016-02-29T12:45:43+0000' | timeago}} • Announcement

Technology company $HRS said it signed a definitive agreement to sell its Aerostructures business to $AIN. The deal value is $210MM. The company expects to close the transaction by the end of the first calendar quarter or early second calendar quarter of 2016.

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