Albany Intl proposes closure of Swiss paper machine clothing plant; 83 jobs affected

ALBANY INTERNATIONAL CORP /DE/

Heimbach Switzerland AG subsidiary proposes to discontinue manufacturing in Olten, Switzerland.
Production would be transferred to other Heimbach GmbH facilities; consultations with employee reps ongoing.
83 employees affected; will be offered separation and outplacement assistance if approved.
Company cannot yet reasonably estimate costs; will disclose amount, type and timing when determined.
Action driven by market conditions; no reflection on employee performance.

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