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Monday, April 1, 2019
Albany International Corp. (AIN)
New CFO appointment: What does it signal?
Albany International Corp. is a textiles and materials processing company. The Company operates through two segments: Machine Clothing (MC) and Albany Engineered Composites (AEC). Its MC segment supplies permeable and impermeable belts used in the manufacture of paper, paperboard, nonwovens, fiber cement and various other industrial applications.
Christian Herbosa, Research Analyst, Noble Capital Markets, Inc.
Refer to full report for price target, fundamental analysis and rating.
- Management Update. After market close last Friday, AIN announced the that its Board of Directors appointed Stephen Nolan as CFO and Treasurer, effective today. Mr. Nolan succeeds John Cozzolino, who had served as CFO and Treasurer since 2011.
- New CFO
Background. Prior to joining AIN, Mr. Nolan served as CFO at
Esterline, where he facilitated its sale to TransDigm. He also served as CFO
for Vista Outdoor, which he helped spin-off from Alliant Techsystems (ATK). He
also worked on the merger of ATK and Orbital Sciences to create Orbital ATK.
Before those positions, Mr. Nol...
*Analyst certification and important disclosures included in full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.