ALBANY, N.Y. (AFX) - Albany International Corp., which makes paper machine fabrics and process belts, said Thursday it will shut down some production at plants in Canada and Wisconsin, cutting 95 jobs.
The company said it will move the production to other facilities within the next several weeks. Albany will record charges totaling between $4.5 million and $5 million related to the move, covering worker severance payments, relocation of equipment and other costs.
The affected units are Albany's dryer fabric manufacturing in Quebec and its seaming work at its Menasha, Wis., facility.
The company cited shifting paper machine clothing demand in the Americas, as well as continued closures of paper and paperboard machines in North America, for the decision. It said it will offer outplacement assistance to the affected hourly and salaried workers.
Albany International shares closed up 24 cents at $35.53 on the New York Stock Exchange.
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