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Albany International Corporation, originally the Albany Felt Company, is an industrial-goods company based in Rochester, New Hampshire, United States. It makes two different lines of products: machine clothing, in particular felts for use in paper manufacturing and textile processing; and composites used in the aerospace industry. Its shares trade on the New York Stock Exchange under the ticker symbol AIN. It is included in both the S&P 600 and the Russell 2000 stock indices. The company was founded in Albany, New York, in 1895 to make felts, serving the many paper mills in the region. It grew and prospered throughout the early 20th century, even during the Great Depression. In the later half of the 20th century it began acquiring overseas firms and expanding into the composites sector. In 2013 it moved its headquarters to New Hampshire to better serve its aerospace customers. Albany International has two divisions: Albany Engineered Composites and Machine Clothing. The former are primarily used in aerospace applications to help make craft lighter, such as the main brace on the landing gear assembled by Messier-Bugatti-Dowty for the 787 Dreamliner, the first use of structural composites in that part of a commercial airliner. Machine Clothing, headquartered in Neuhausen, Switzerland, is the companys traditional core business, descending from the felts used in early paper machines, still accounting for 86% of its sales in 2015. Specialized textiles that brace and dry paper as it travels through the machines 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, shingles and carpet, and tanners (the company claims to be the largest manufacturer of felts for leather manufacture in the world). Its competitors include one other American company, Xerium Technologies, and two privately-held foreign concerns, Valmet Fabrics Oy and Asahi Kasei Spandex Europe GmbH.
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