In a groundbreaking move set to reshape the global landscape of paper production, Albany International, headquartered in Rochester, New Hampshire, has set the industry abuzz by acquiring the prestigious Heimbach Group, hailing from Düren, Germany, in a cash deal amounting to €132 million. Adding to this exciting development is the assumption of net debt, standing at approximately €22 million.
Heimbach Group, a veritable titan in the field of paper machine clothing (PMC), extends its influence across the continents with nine production facilities strategically stationed in Europe and Asia. Their reputation as a global supplier of PMC for paper, pulp, and cardboard production, combined with their versatile technical textiles, utilized in industries ranging from food processing to automotive, renders Heimbach a prized gem in the industrial world.
Daniel Halftermeyer, the President of Albany’s Machine Clothing business, exclaimed, “We are excited about the opportunities to create additional value for our shareholders and customers through the increased scale, complementary technologies, and broader geographic footprint this transaction provides. Together we will effectively combine the strengths of each company to set a new standard in customer value delivery as the industry’s partner-of-choice.”
And that excitement is mirrored by Heimbach’s CEO, Marco Esper, who enthusiastically stated, “In Albany International, we found a like-minded partner who shares our commitment to best-in-class customer service and advancing modern paper production. Together, we will leverage our collective product and technology portfolios to become an even better provider to our customers.”
This strategic alliance is poised to spark innovation, foster groundbreaking advancements, and unlock a new realm of possibilities for the global paper and textile industries. Albany International, with 23 plants across 11 countries and a turnover exceeding $1 billion, will join forces with Heimbach Group, adding an annual turnover of €160 million and 1,200 skilled employees to the mix.
As these two industry giants unite their strengths, the future holds a promise of enhanced customer value, cutting-edge technology, and a transformative journey towards setting new standards in modern paper production.
Stay tuned for the remarkable developments on the horizon as Albany International and Heimbach Group embark on this thrilling adventure together. This merger, it seems, is just the beginning of an exciting chapter in the world of global industry.