Albany International exploring sale of AED Facility; 10+ PE inquiries received

ALBANY INTERNATIONAL CORP /DE/

Selecting financial advisor and building financial models for potential sale of Amelia Earhart Drive Facility as a whole.
More than 10 inbound inquiries from private equity; no strategic investor interest to date.
In ongoing customer discussions about contract modifications to offset cost increases.
If divestiture completed, Adjusted EBITDA margin for Albany Engineered Composites segment expected to be mid-to-high teens.
No timeline estimate for process; outcome depends on best interests of company and shareholders.

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