financetom
Business
financetom
/
Business
/
Albany International to Consolidate Italy Manufacturing Operations
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Albany International to Consolidate Italy Manufacturing Operations
Feb 14, 2025 5:33 AM

08:05 AM EST, 02/14/2025 (MT Newswires) -- Albany International's ( AIN ) Albany International Italia affiliate said Friday that it will begin consultations with employee representatives about its decision to discontinue manufacturing operations at a facility in Ballo, Italy.

The company said it plans to relocate operations to a Merone, Italy facility owned by Industrie Tessili Bresciane, another Albany International ( AIN ) affiliate.

The consolidation must meet legal requirements and will have an impact on employees, who will be offered transfers or other options, the company said.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Polaris' Q3 Adjusted Earnings, Sales Fall; Lowers Full-Year Outlook
Polaris' Q3 Adjusted Earnings, Sales Fall; Lowers Full-Year Outlook
Oct 22, 2024
06:34 AM EDT, 10/22/2024 (MT Newswires) -- Polaris (PII) reported Q3 adjusted earnings Tuesday of $0.73 per diluted share, down from $2.71 a year earlier. Analysts polled by Capital IQ expected $0.91. Sales for the quarter ended Sept. 30 was $1.72 billion, down from $2.25 billion a year earlier. Analysts surveyed by Capital IQ expected $1.77 billion. The company said...
HSBC Names Pam Kaur Group CFO; Reorganizes Structure Into Four Businesses
HSBC Names Pam Kaur Group CFO; Reorganizes Structure Into Four Businesses
Oct 22, 2024
06:30 AM EDT, 10/22/2024 (MT Newswires) -- HSBC Holdings ( HSBC ) said Tuesday it has named Pam Kaur as group chief financial officer, starting Jan. 1, 2025. Kaur joined the bank in 2013 and is currently the group chief risk and compliance officer, HSBC ( HSBC ) added. The bank also said it will update regarding Kaur's successor as...
Brevan Howard says significant amount of its crypto trading done from UAE
Brevan Howard says significant amount of its crypto trading done from UAE
Oct 22, 2024
Oct 21 (Reuters) - Brevan Howard does a significant amount of its crypto trading from the United Arab Emirates because of the country's sensible regulations, an executive from the hedge fund told the AIM conference in Dubai on Monday. The regulators in the UAE are hard, but they want the industry to fly and so they write sensible regulations and...
GM results exceed Wall Street targets; company is upbeat on full-year earnings
GM results exceed Wall Street targets; company is upbeat on full-year earnings
Oct 22, 2024
DETROIT (Reuters) -General Motors ( GM ) continued to defy Wall Street's expectations this year, posting third-quarter results ahead of analyst projections on the back of steady gasoline-engine truck and SUV sales and a focus on keeping inventories lean.  GM is targeting annual earnings at the top end of its previous forecast, and Chief Financial Officer Paul Jacobson brushed off...
Copyright 2023-2026 - www.financetom.com All Rights Reserved