Albany International
A publicly traded industrial materials company producing paper-machine clothing and engineered composite structures, principally for papermaking and aerospace.
Last updated August 22, 2026
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Overview
Albany International Corp. is a United States-based industrial materials company headquartered in Rochester, New Hampshire. Its history began in Albany, New York, in 1895, when the Albany Felt Company was established to manufacture felt for the paper mills concentrated along the Hudson River and in the surrounding northeastern United States. The company developed alongside the mechanization and expansion of papermaking, supplying specialized fabrics that support the forming, pressing, conveying, and drying stages of continuous paper production. The company now operates through two principal business areas: Machine Clothing and Albany Engineered Composites. Machine Clothing is the older and larger activity. It supplies engineered textile products, including forming fabrics, press felts, dryer fabrics, and related industrial textiles. These products are installed in paper machines and other industrial processes rather than sold directly to consumers. The division also serves selected non-paper markets, including manufacturers of building products, flooring, shingles, carpets, and leather-processing customers. Albany Engineered Composites represents the company’s major expansion beyond traditional industrial felts. It develops and manufactures advanced composite components and structures for aerospace applications, where low weight, stiffness, durability, thermal performance, and manufacturability are important. Its work has included structural aerospace components and engine-related composite applications. The company has participated in programs associated with aircraft such as the Boeing 787 Dreamliner and with engines including the CFM International LEAP and General Electric GE9X programs. Albany International expanded internationally during the second half of the twentieth century through acquisitions, subsidiaries, joint ventures, and new manufacturing locations. Its manufacturing and research footprint has included facilities in the United States, Canada, Brazil, China, Mexico, South Korea, and several European countries. The company moved its headquarters from the Albany area to Rochester, New Hampshire, as its aerospace composite operations became more strategically important and the company sought closer integration with those activities. The business is industrial and predominantly business-to-business. Its competitive position rests on specialized textile engineering, process knowledge, manufacturing scale, long-term customer relationships, and the ability to develop materials for demanding production environments. Albany International’s shares trade on the New York Stock Exchange under the symbol AIN. The company has also been included in the S&P SmallCap 600 and Russell 2000 indexes. Its principal challenges include cyclical demand in industrial and aerospace markets, the need for continuing investment in research and development, manufacturing efficiency, program execution, and managing the balance between its mature Machine Clothing business and its growth-oriented composites business.
History
Albany International originated in Albany, New York, during a period when the northeastern American paper industry was adopting continuous paper machines. Those machines required specialized felts to support and dry the moving paper web. After the Albany Huyck felt mill burned in 1894, its superintendent Duncan Fuller—who had developed a patented weaving method—joined with local businessmen Selden Marvin, James Cox, and Parker Corning to establish the Albany Felt Company. The company was incorporated on March 8, 1895. Its first plant operated on Thacher Street with 36 workers and seven rented looms, and it recorded $27,000 in sales in 1896. Growth in papermaking quickly pushed the company beyond its original premises. A larger plant was completed in 1902, and by 1920 annual sales had reached approximately $2 million. Parker Corning became president in 1918 and promoted sales beyond the United States. The company expanded its facilities during the 1920s and 1930s and remained viable through the Great Depression. Demand increased again during the Second World War as paper producers supported defense production. After Corning’s death in 1943, control passed to his cousin Lewis Parker. Following the war, Albany Felt began locating production closer to customers. It established a Canadian subsidiary and plant in Cowansville, Quebec, in 1951, followed by further facilities and joint ventures in the United States, Latin America, Scandinavia, France, the Netherlands, Australia, and other markets. The company also broadened its industrial textile activities. In 1969, a hostile takeover attempt led Albany Felt to merge with Appleton Wire Works of Wisconsin and Swedish felt manufacturer Nordiska Maskinfilt. The combined company adopted the name Albany International and became a major global supplier of fabrics used throughout the papermaking process. Albany International introduced its current logo in 1972 and became publicly traded later that year. Its shares began trading on the New York Stock Exchange in 1974. Acquisitions continued during the 1970s, but the resulting debt burden contributed to a 1983 leveraged buyout that returned the company to private ownership. Management subsequently sold noncore businesses and concentrated on papermaking-related activities and manufacturing efficiency. Shareholders approved a return to public ownership in 1987; the shares traded on NASDAQ before returning to the NYSE in 1988. During the 1990s, Albany International expanded further in Asia and Europe, including operations in South Korea and China. In 2002 it acquired Techniweave, a New Hampshire producer of aerospace composites. Techniweave was later combined with a Texas composite manufacturer, forming the foundation of Albany Engineered Composites. The company opened a Chinese plant in Hangzhou in 2007 and began a multiyear restructuring program. It divested noncore operations, including a filtration business and Albany Door Systems, while PrimaLoft, an insulation-fabric business developed for the United States military, was spun off. Lean manufacturing and Six Sigma methods were introduced to improve operating performance. Aerospace growth increasingly influenced the company’s strategy and geography. Albany International completed the transfer of headquarters to Rochester, New Hampshire, in the early 2010s, and the remaining operations left the historic Menands complex by 2013. The former Albany-area facility was later sold and converted for residential use; it was placed on the National Register of Historic Places in 2014. The Rochester campus became the corporate headquarters, a major composite manufacturing site, and a research and development center. In the mid-2010s the company described its strategy as focusing on leadership in Machine Clothing while expanding Albany Engineered Composites. Its aerospace work included structural composite components for the Boeing 787 Dreamliner, cooperation with Safran on the CFM International LEAP engine program, and selection by General Electric for a GE9X engine fan-case application. In 2016 Albany International agreed to acquire Harris Corporation’s aerospace structures division, strengthening its airframe composite capabilities. The modern company therefore combines a long-established global industrial textile franchise with a more recently developed aerospace composites business.
- 2016
Harris aerospace structures acquisition agreed
[1]Albany International agreed to acquire Harris Corporation’s aerospace structures division for $210 million.
- 2011
Headquarters transferred to New Hampshire
[1]Corporate headquarters moved to Rochester, New Hampshire, to support the company’s aerospace-oriented development.
- 2007
Hangzhou plant opened
[1]The company established its first plant in China in Hangzhou while beginning a broad restructuring program.
- 2002
Techniweave acquired
[1]Albany International acquired Techniweave, expanding into aerospace composite manufacturing.
- 1987
Return to public ownership
[1]Shareholders approved a return to public ownership, with shares initially trading on NASDAQ.
- 1983
Leveraged buyout
[1]The company was taken private in a leveraged buyout and subsequently refocused on core industrial activities.
- 1974
NYSE trading begins
[1]Albany International shares began trading on the New York Stock Exchange.
- 1972
Company becomes publicly traded
[1]Albany International introduced its current logo and began its public-company history.
- 1969
Albany International name adopted
[1]Albany Felt merged with Appleton Wire Works and Nordiska Maskinfilt following a takeover defense, creating Albany International.
- 1951
First overseas production expansion
[1]Albany Felt established a Canadian subsidiary and plant in Cowansville, Quebec.
Products and positioning
A specialized supplier of engineered industrial textiles and lightweight composite structures for demanding manufacturing and aerospace applications.
Industrial textiles
Machine Clothing
Machine Clothing includes engineered forming fabrics, press felts, dryer fabrics, and related textiles used in paper machines. The products help carry the paper web, remove water, provide support during pressing, and facilitate drying. The division also supplies specialized felts and fabrics for selected building-product, carpet, flooring, shingle, textile-processing, and leather-manufacturing applications.
Aerospace composites
Albany Engineered Composites
Albany Engineered Composites develops lightweight, high-performance composite structures and components for aerospace customers. Its capabilities include the design and manufacture of components for airframes and aircraft engines, where reduced weight, strength, thermal performance, and reliable production are central requirements.
Papermaking textiles
Paper-machine forming fabrics
Forming fabrics support the paper sheet as it is formed and transported through the wet end of a paper machine. Their engineered weave and permeability influence drainage, sheet formation, machine performance, and paper quality.
Papermaking textiles
Paper-machine press felts
Press felts are used in the press section of paper machines to convey the sheet and assist with water removal under pressure. Their construction is designed for controlled permeability, resilience, wear resistance, and stable operation.
Aerospace structures
Aerospace structural composites
The company manufactures composite structures and components for aircraft applications. One cited example is a structural landing-gear brace assembled by Messier-Bugatti-Dowty for the Boeing 787, described as an early commercial-airliner use of structural composites in that location.
Brand decisions
2016
Agreement to acquire Harris aerospace structures divisionM&ABackground
Albany International sought to strengthen its airframe-composite portfolio and expand Albany Engineered Composites.
Action taken
The company agreed to acquire Harris Corporation’s aerospace structures division for total consideration of $210 million, funded through cash and an increase in revolving credit capacity.
Aftermath
The transaction was intended to increase Albany International’s position in aerospace structures and broaden its composite manufacturing capabilities.
Total consideration. 210 million USD (2016 transaction announcement)
2011
Headquarters relocation to Rochester, New HampshireStrategyBackground
Expansion of the aerospace composites business increased the importance of the Rochester, New Hampshire, operating base.
Action taken
Albany International moved its corporate headquarters from the Albany-area historic complex to Rochester, consolidating leadership, composite manufacturing, and research activities there.
Aftermath
The former Menands-area complex was sold after the company’s remaining operations departed and was later redeveloped.
2007
Restructuring and operational-efficiency programStrategyBackground
Albany International sought to remain competitive while expanding internationally and developing engineered composites.
Action taken
The company opened a Chinese plant, divested noncore operations, spun off PrimaLoft, and implemented lean manufacturing and Six Sigma practices.
Aftermath
The program sharpened the company’s focus on Machine Clothing and aerospace composites.
1983
Leveraged buyout and core-business refocusingStrategyBackground
A growing debt load from acquisitions placed pressure on the publicly traded company.
Action taken
Management took Albany International private, sold several noncore businesses, and concentrated resources on papermaking-related operations and manufacturing efficiency.
Aftermath
The company returned to public markets in 1987 and resumed NYSE listing in 1988.
1969
Merger to defend against hostile takeoverM&ABackground
Albany Felt faced a hostile takeover attempt while the paper-machine-clothing sector was consolidating.
Action taken
The company merged with Appleton Wire Works and Nordiska Maskinfilt and adopted the Albany International name.
Aftermath
The combined business became a global supplier of fabrics for multiple stages of papermaking and substantially increased its international scale.
Recent events
- 2016
Albany International agrees to acquire Harris aerospace structures division[1]
M&A
Albany International announced an agreement to acquire an aerospace structures division from Harris Corporation for total consideration of $210 million, financed through cash and additional revolving credit capacity.
- 2011
Albany International moves headquarters to Rochester, New Hampshire[1]
Other
The company transferred its corporate headquarters from the Albany-area historic complex to Rochester, New Hampshire, where its aerospace composite operations and research capabilities were located.
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