Defense and Aerospace Growth Prospects
Increasing activity in the defense sector, particularly hypersonics and new programs, is expected to result in accelerated growth at AEC, alongside growth in commercial aerospace over the next several years.
Machine Clothing Performance
Despite some second quarter timing and market headwinds, Machine Clothing showed growth from the first quarter with revenues of $181 million and an adjusted EBITDA margin of 28.8%.
Strategic Facility Closures and Optimization
Albany International commenced the closure of two additional facilities as part of optimizing its global production footprint, aiming to enhance operational efficiency.
New CFO Appointment
Will Station has been appointed as the new CFO, bringing extensive experience from McKesson Medical-Surgical and Boeing.
Positive Reception for 3D Woven Technology
The company's 3D woven technology garnered positive feedback at the Paris Air Show, with potential to replace titanium in various aerospace applications.