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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of Report: March 21, 2022
(Date of earliest event reported)
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| ALBANY INTERNATIONAL CORP. | |
| (Exact name of registrant as specified in its charter) | |
| | | | | | | | |
| Delaware | 1-10026 | 14-0462060 |
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S Employer Identification No.) |
| | | | | |
216 Airport Drive Rochester, New Hampshire | 03867 |
(Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code 603-330-5850
| | |
None |
(Former name or former address, if changed since last report.) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class | | Trading Symbol(s) | | Name of each exchange on which registered |
Class A Common Stock, $0.001 par value per share | | AIN | | The New York Stock Exchange (NYSE) |
Class B Common Stock, $0.001 par value per share | | AIN | | The New York Stock Exchange (NYSE) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter).
☐ Emerging growth company
¨ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act
Item 5.02. Election of Director.
On March 21, 2022, the Board of Directors of Albany International Corp. (“Albany”) voted to elect Russell E. Toney as a member of the Board. The Board also appointed Mr. Toney to the Board’s Compensation Committee. A copy of Albany’s news release announcing Mr. Toney’s election is filed as Exhibit 99.1 to this report.
Upon his election, Mr. Toney entered into an indemnification agreement with Albany, the form of which has been previously filed as Exhibit 10(t) to a Current Report on Form 8-K filed on April 12, 2006.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. The following exhibit is being furnished herewith:
99.1 News Release dated March 21, 2022.
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| ALBANY INTERNATIONAL CORP. | |
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| By: | /s/ Stephen M. Nolan | |
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| Name: | Stephen M. Nolan | |
| Title: | Chief Financial Officer and Treasurer |
| | (Principal Financial Officer) |
Date: March 21, 2022
EXHIBIT INDEX
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Exhibit No. | Description |
| 99.1 | |
| 104 | Inline XBRL cover page. |
Document
Exhibit 99.1
NEWS RELEASE 
RUSSELL E. TONEY ELECTED TO ALBANY INTERNATIONAL CORP. BOARD OF DIRECTORS
Rochester, N.H. -- Mar. 21, 2022 – Albany International Corp. (NYSE:AIN) announced today that Russell E. Toney has been elected to its Board of Directors.
Mr. Toney, age 52, has served since 2018 as President, Specialty Business Group at Dover Corporation, a diversified global manufacturing company, responsible for multiple operating companies in Dover’s portfolio of entities producing highly engineered products for the electronics, automotive, industrial automation, defense and communications industry. From 2015 to 2018 he was Dover’s Senior Vice President, Global Sourcing, where he also had responsibility for its Global Innovation center in India. Before joining Dover, Mr. Toney spent 13 years at General Electric Company where he held various sales and leadership positions in its plastics business, as well as supply chain and leadership roles at its energy business. Prior to that, he was a strategy consultant with Boston Consulting Group and worked in engineering and manufacturing roles at Proctor Gamble Company. Mr. Toney holds a B.S. degree in Chemical Engineering from the University of Dayton and an M.B.A. from the Darden Graduate School of Business at the University of Virginia.
Albany International Chairman Erland (Erkie) Kailbourne said, “We are pleased to welcome Russell to our Board of Directors. He is a seasoned business leader who brings significant functional and industry experience. His experience in sales, operations, supply chain, and strategic consulting, as well as his engineering background, will contribute greatly to the Board’s vision and strategy for the Company. He is a leader with significant profit and loss responsibilities, who understands the challenges of bringing highly engineered products to market. He brings significant knowledge and experience to the role which will prove insightful as we continue to innovate and develop new product offerings. Mr. Toney will be a valuable contributor to our Board, and I take great pleasure in welcoming him as a new Director.”
Albany International Corp.
216 Airport Dr.
Rochester, NH 03867 USA
www.albint.com
About Albany International Corp.
Albany International is a leading developer and manufacturer of engineered components, using advanced materials processing and automation capabilities, with two core businesses. Machine Clothing is the world’s leading producer of custom-designed, consumable fabrics and process belts essential for the manufacture of all grades of paper products. Albany Engineered Composites is a growing designer and manufacturer of advanced materials-based engineered components for demanding aerospace applications, supporting both commercial and military platforms. Albany International is headquartered in Rochester, New Hampshire, operates 23 facilities in 11 countries, employs approximately 4,100 people worldwide, and is listed on the New York Stock Exchange (Symbol AIN). Additional information about the Company and its products and services can be found at www.albint.com.
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Contacts:
John Hobbs
603-330-5897
john.hobbs@albint.com