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Albany International Corp.
AIN announced today that its subsidiary,
Albany International France S.A.S., has initiated discussions with the
employee Works Council regarding a proposal to restructure operations at the
Company's Machine Clothing production facilities in Sélestat and St. Junien.
The proposed restructuring would reduce employment by approximately 200
positions at these locations.
The proposal is driven by the previously reported continuing deterioration of
Machine Clothing market conditions in Europe. The proposal aims to maintain
operations in each location, but restructured in a manner that will improve
competitiveness, increase efficiency, and promote the viability of these
locations in the long term.
An earlier proposal to close the facility in St. Junien, and relocate
production to Sélestat, made in February of this year, was later withdrawn.
Since that time, the Company's employees and management have conducted a
number of meetings, exchanged information, and explored a number of ideas
focused on addressing the current challenges facing Machine Clothing
operations in France as market conditions in Europe continue to decline.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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