Albany International to close Tumwater paper plant
Puget Sound Business Journal (Seattle)
Albany International Corp. said it will close its Tumwater plant that makes belts used in the paper-making process, putting 32 employees out of work.
The Albany, N.Y. company (NYSE: AIN) has owned the Tumwater plant in Washington state’s Thurston County since 1977.
The company cited the closure as “a business necessity, driven by the existing and anticipated market conditions.”
Albany International, with close to 6,000 employees, primarily produces fabrics and parts for machinery used by the paper and pulp industries.
All those sectors have been hard hit during the global recession. Albany International projects that this year will be its first year-over-year decline in sales in 15 years.
The company also announced Wednesday that it will shut down some European operations.
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