Albany Engineered Composites extends JASSM and LRASM Programs with Lockheed Martin Through 2029

PORTSMOUTH, N.H.--(BUSINESS WIRE)-- Albany International Corp. (NYSE: AIN) announced today that its subsidiary Albany Engineered Composites, Inc. (AEC) has been awarded multiyear contracts from Lockheed Martin’s Missiles & Fire Control business (Lockheed), extending its support of the JASSM and LRASM missile programs at its Salt Lake City, Utah facility. Utilizing its advanced braiding and resin transfer molding technologies, AEC will continue production of unique composite components for the programs under these multiyear contracts.

“AEC is honored to continue supporting the U.S. warfighter with mission critical hardware on the JASSM and LRASM missile programs,” said Chris Stone, AEC President. “The extension of these programs with Lockheed is representative of the existing strategic relationship between our two companies across several fixed wing fighter aircraft, rotorcraft, and missile programs. We look forward to exploring additional opportunities to provide Lockheed with advanced composite components utilizing our state-of-the-art composite design and manufacturing capabilities.”

About Albany Engineered Composites

Albany Engineered Composites (AEC) designs and manufactures advanced engineered composite components for engine and airframe applications for commercial and military aircraft, missiles and unmanned vehicles. 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 custom-designed, consumable belts essential for the manufacture of paper, paperboard, tissue and towel, pulp, non-wovens and a variety of other industrial applications.
• Albany Engineered Composites is a growing designer and manufacturer of advanced materials-based engineered components for demanding aerospace applications, supporting both commercial and military platforms.

Albany International is headquartered in Rochester, New Hampshire, operates 30 facilities in 13 countries, employs approximately 5,400 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

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Investor / Media Contact:

Will Station, Executive Vice President - Chief Financial Officer

Will.Station@albint.com

Source: Albany International Corp.