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Albany International Selected by Sikorsky to Produce CH-53K Aft Transition, Adding to Its Share on The Program

BusinessWire_EN 
0 0 15.02.22
Albany International Selected by Sikorsky to Produce CH-53K Aft Transition, Adding to Its Share on The Program: https://mms.businesswire.com/media/20210513005937/en/878052/5/AILogoJPGFormat.jpg
 

Albany International Corp. (NYSE: AIN) announced today that its subsidiary Albany Engineered Composites (AEC) has been selected by Sikorsky Aircraft to produce the complete CH-53K Aft Transition assembly in a competitively bid 10-year long term agreement (LTA) covering Lots 7 through 14. Long-lead funding is already underway to support the schedule and the contract is expected to be finalized in the first quarter of 2022 with first deliveries in 2023.

“We are tremendously excited and honored to be adding this significant additional content to our current production of Sponsons and Tail Rotor Pylon assemblies for the world’s preeminent next generation heavy lift helicopter,” said Greg Harwell, AEC President. “This agreement signifies the successful and growing relationship between Sikorsky and Albany.”

AEC designs and manufactures advanced engineered composite components for engine and airframe applications for commercial and military aircraft, missiles and unmanned vehicles, and for renewable energy creation and distribution. AEC’s specialty composite solutions enable current and next-generation aircraft to perform better while being more fuel-efficient, cost-effective, and environmentally-friendly.

About Albany International Corp.

Albany International is a leading developer and manufacturer of engineered components, using advanced materials processing and automation capabilities, with two core businesses. Machine Clothing is the world’s leading producer of fabrics and process belts used in the manufacture of all grades of paper products. Albany Engineered Composites is a growing designer and manufacturer of advanced materials-based engineered components for jet engine and airframe applications, supporting both commercial and military platforms. Albany International is headquartered in Rochester, New Hampshire, operates 23 plants in 11 countries, employs more than 4,100 people worldwide, and is listed on the New York Stock Exchange (Symbol AIN). Additional information about the Company and its products and services can be found at www.albint.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220214005790/en/

Albany International A Stock

€80.00
1.270%
There is an upward development for Albany International A compared to yesterday, with an increase of €1.00 (1.270%).
Currently there is a rather positive sentiment for Albany International A with 4 Buy predictions and 1 Sell predictions.
With a target price of 93 € there is a slightly positive potential of 16.25% for Albany International A compared to the current price of 80.0 €.
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