Württembergische Filztuchfabrik D. Geschmay GmbH, an affiliate of Albany International Corp. (NYSE:AIN – News), announced today its intention to reduce personnel at its facility in Göppingen, Germany. The personnel reduction is the result of the continuing consolidation of customers in Europe and the need to balance the Company’s paper machine clothing manufacturing capacity in Europe with anticipated paper mill demand. Similar steps have been taken by the Company over the last few years in both Europe and North America, as the global paper and paperboard industry continues to shift capacity from traditional paper markets to new emerging markets.
The reduction is subject to review under local law and will be implemented in accordance with such law and in consultation with the Works Council.
The planned action at Göppingen in no way reflects on the performance of the affected employees; it is a business necessity, driven by the existing and anticipated market conditions. The reduction of personnel is expected to become effective by March 31, 2009.
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