Albany International completes €132M cash acquisition of Heimbach, assumes €22M debt

ALBANY INTERNATIONAL CORP /DE/

Total consideration €132 million cash plus assumed net debt of approximately €22 million.
Heimbach is a global supplier of paper machine clothing and high-tech textiles, headquartered in Düren, Germany.
Acquisition funded with cash held in Europe; Heimbach becomes wholly owned indirect subsidiary of Albany.
Albany expects complementary technologies and broader geographic footprint to create shareholder value.

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