Home    Resource Store    Past Issues    Buyers' Guide    Career Center    Subscriptions    Advertising    E-Newsletter    Contact

http://www.textileservicesonline.com
http://www.expoproduccion.mx/Content/Exhibitors/24/
http://www.schlafhorst.saurer.com
http://www.textileworld.com/forms/mediakit.html
http://www.textileworld.com/Store/Books/index.html
http://www.textileworld.com/careers/index.html
September/October 2014 Sept/Oct 2014

View Issue  |

Subscribe Now  |

Events

Pattern Development
09/29/2014 - 10/01/2014

TRSA Annual Conference
09/29/2014 - 10/01/2014

30th IAF World Fashion Convention
09/29/2014 - 10/01/2014

- more events -

- submit your event -

Printer Friendly
Full Site
Textile News

Albany International To Sell PrimaLoft® Products Business

Albany International Corp., a Rochester, N.H.-based advanced textiles and materials processing company, has announced plans to sell all assets of its PrimaLoft® products business to Albany, N.Y.-based PrimaLoft Inc. — a company recently established by the current PrimaLoft management team in partnership with Prudential Capital Partners L.P. The $38-million transaction is expected to be completed by the end of the second quarter of 2012.

PrimaLoft® man-made insulations and yarns are used in home furnishings, outdoor and fashion brand products, workwear, and military applications.

"This transaction, following the sale of Albany Door Systems and the integration of Paper Machine Clothing and Engineered Fabrics earlier this year, completes our efforts to simplify our 'cash and grow' corporate strategy and structure," said Joseph G. Morone, president and CEO, Albany International. "For our friends and colleagues at PrimaLoft Products, who have so successfully grown and positioned PrimaLoft as a leading global brand, they will have the opportunity to continue to grow with the support of Prudential, while building on the strong foundation they established as a part of Albany International over the last 20+ years."

"This is an incredible opportunity for the future of PrimaLoft and I am excited to again work with PrimaLoft and the management team," said Michael Joyce, former president, Albany International's Applied Technology Group, who will become president and CEO of PrimaLoft. "PrimaLoft has grown to become the world leader in performance insulations and yarns. This move will enable PrimaLoft to continue to grow by making the necessary investments in the brand to maintain its leadership position in the marketplace."

Primaloft will retain its entire global team, as well as its headquarters in Albany and European offices in Italy and Germany.

May 8, 2012

Advertisement

http://www.staubli.us