What changed in this filing

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Item 1. Business

2026-02-27 compared with 2025-02-26 · 81 added, 105 removed, 188 unchanged (50% of the section changed)

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Principal paper machine clothing products include forming, pressing, and drying fabrics, and process belts.

A forming fabric assists in paper sheet formation and conveys the very wet sheet through the forming section.

Pressing fabrics are designed to carry the sheet through the press section, where water is mechanically pressed from the sheet as it passes through the press nip.

In the drying section, drying fabrics manage air movement and hold the sheet against heated cylinders to enhance drying and help control tight tolerances of final moisture content depending on the grade.

Process belts are used in the press section to increase dryness and enhance sheet properties, as well as in other sections of the machine to improve runnability and enhance sheet qualities.

PMC product revenues accounted for more than 80% of MC’s segment Net revenues.

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The MC segment sells its products directly to customer end-users in countries across the globe.

MC products, manufacturing processes, and distribution channels are substantially similar in each region of the world in which we

MC products, manufacturing processes, and distribution channels are substantially similar in each region of the world in which we operate.

No individual customer accounted for as much as 10% of MC segment Net revenues in any of the periods presented.

In August 2023, the Company completed the acquisition of Heimbach GmbH ("Heimbach"), a privately-held manufacturer of paper machine clothing and technical textiles.

For additional information, see Note 24, Business Combination, of the Notes to the Consolidated Financial Statements in Item 8, Financial Statements and Supplementary Data, of our 2023 Annual Report on Form 10-K .

The financial results of the acquired company are included in the MC reportable segment.

Albany Engineered Composites

The Albany Engineered Composites (“AEC”) segment is a leader in innovative composite technology solutions and manufacturer of engineered components, structures and assemblies for demanding aerospace and defense applications.

AEC provides highly engineered, advanced composite structures and assembly solutions to customers and platforms in the commercial and defense markets, as well as for space-launch vehicles and the emerging advanced air mobility market (“AAM”).

The Albany Engineered Composites (“AEC”) segment is a leader in innovative composite technology solutions and manufacturer of engineered components for demanding aerospace and defense applications.

AEC provides highly engineered, advanced composite solutions to customers and platforms in the commercial and defense markets, as well as for space-launch vehicles and the emerging advanced air mobility market (“AAM”).

The segment includes Albany Safran Composites, LLC (“ASC”), in which our customer, SAFRAN Group ("SAFRAN"), owns a 10% noncontrolling interest.

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AEC’s largest aerospace customer is SAFRAN and sales to SAFRAN (consisting primarily of fan blades and cases for CFM’s LEAP engine) accounted for approximately 15% of the Company’s consolidated net revenues in 2025.

Other significant AEC programs include the production of structures, parts and sub-assemblies for the Sikorsky CH-53K helicopter, F-35 fighter jet, Joint Air-to-Surface Standoff Missile ("JASSM"), Boeing 787 aircraft, and components and structures on other commercial, business jet, defense, space and AAM programs.

Other significant AEC programs include the CH-53K helicopter, F-35 fighter jet, Joint Air-to-Surface Standoff Missile ("JASSM"), Boeing 787 aircraft, Beta Alia, and other commercial, defense, space and AAM programs.

AEC also supplies vacuum waste tanks for most Boeing commercial aircraft, as well as the fan case for the GE9X engine used on the Boeing 777 aircraft.

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government contracts or programs.

During the fourth quarter of 2025, the Company announced that it is exploring strategic alternatives for its structures assembly business including a potential sale of all or a part of the business at the Amelia Earhart Drive Facility in Salt Lake City.

International Operations

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While global trade and tariff policies have not had a material impact to our past results of operations, there is risk that the impact of recent developments on companies in our supply chain could cause higher costs from affected suppliers.

With the change in the United States Presidential Administration, proposed tariffs by the new Administration may significantly adversely impact our results of operations.

We have a cash repatriation strategy that manages a certain amount of foreign current year earnings that are not indefinitely reinvested.

We have a cash repatriation strategy that returns a certain amount of foreign current year earnings that are not indefinitely reinvested.

Changes in the trade or regulatory compliance in any country that we have significant cash balances could make it more difficult to repatriate foreign earnings cost-effectively in the future.

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As a result, many employees in sales and technical functions have engineering degrees, paper mill experience, or other manufacturing experience in the markets in which we operate.

Our market leadership position reflects our

commitment to technology innovation.

Our market leadership position reflects our commitment to technology innovation.

This innovation has resulted in new products and enhancements across all of our product lines.

AEC develops innovative solutions and manufactures advanced composite parts and assemblies for complex aerospace applications, using a range of core technologies, including its proprietary 3D-woven reinforced composites technology, traditional 2D laminated composite structures, automated fiber placement for both thermoplastics and thermoset composites as well as rigid installation for through-thickness reinforcements, and braided structures.

In addition, AEC continues to leverage its 3D woven technology to develop differentiated processing solutions for high-temperature applications, including hypersonic flight components.

AEC develops innovative solutions and manufactures advanced composite parts for complex aerospace applications, using a range of core technologies, including its proprietary 3D-woven reinforced composites technology, traditional 2D laminated composite structures, automated fiber placement for both thermoplastics and thermoset composites as well as rigid installation for through-thickness reinforcements, and braided structures.

As critical materials are constraining the US industrial base, 3D-woven components are a critical replacement for titanium structures for commercial and defense applications with compression strengths far exceeding traditional titanium properties.

addition, AEC continues to leverage its 3D-woven technology to develop differentiated processing solutions for high-temperature applications, including hypersonic flight components.

AEC is working closely with its customers to develop high performance alternatives to traditional thermal protection and energy absorption requirements.

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Technical and research expenses totaled $48.0 million in 2025, $46.1 million in 2024, and $40.6 million in 2023.

In 2024, these costs were 3.7% of total Company Net revenues, including $16.3 million, or 3.4% of Net revenues, in our AEC segment.

In 2025, these costs were 4.1% of total Company Net revenues.

Research and development in the AEC segment include both Company-sponsored and customer-funded activities.

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New Business Ventures

In 2024, the Company launched a New Business Ventures team dedicated to developing innovative products and business opportunities that address high growth opportunities which are adjacent to our current business portfolio utilizing our existing developed technologies, materials science and extensive expertise across our MC and AEC segments.

The strategy is to unlock further potential in focus areas, such as 3D weaving, resin transfer molding, large scale flat weaving, and the application of technically diverse composite materials and coatings, to create and certify groundbreaking products.

The Company maintains a New Business Ventures team dedicated to developing innovative products and business opportunities that address high growth opportunities which are adjacent to our current business portfolio utilizing our existing developed technologies, materials science and extensive expertise across our MC and AEC segments.

The team's strategy is to unlock further potential in focus areas, such as 3D weaving, resin transfer molding, large scale flat weaving, and the application of technically diverse composite materials and coatings, to create and certify groundbreaking products.

For instance, we are currently exploring the use of our 3D weaving expertise in combination with our resin and coatings capabilities to enhance the effectiveness of products that can be used in various defense and space applications.

In coordination with raw material providers and equipment OEMs, we are developing an enhanced value proposition for the market that further reduces weight and improves overall performance of identified products in applications across various industries.

We are also innovating within our MC segment, with our material science focus on constantly improving our work within the polymer business.

Our innovation allows us to produce new, hybrid polymer systems that not only increase our performance in the field, but accomplish this in a sustainable manner.

Our expertise in materials extends into many of our core technologies, such as weaving, coatings, and extrusions, for example.

This allows us to create new systems, improving resilience and temperature resistance.

Our goal is to leverage our existing subject matter experts across our Research, Development and Technology teams to drive future profitable growth of new products addressing an expanded range of applications and end-markets.

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Intellectual Property

We continue to generate and develop proprietary intellectual property germane to the industries we serve.

Our intellectual property includes patents and trademarks across multiple jurisdictions worldwide.

We also develop and own other intellectual property including copyrights, trade secrets, research and development, and engineering and manufacturing know-how, which make important contributions to our business.

In addition, we have licensed intellectual property to and from third parties.

While we consider our intellectual property portfolio to be an important competitive advantage, in general, we do not believe that any single patent, trademark, license or other intellectual property right or group of related intellectual property rights is of such importance that its loss or termination would have a material adverse effect on our business taken as a whole.

We continue to develop proprietary intellectual property that supports the industries we serve.

Our portfolio includes patents and trademarks registered worldwide, as well as, copyrights, trade secrets, research and development outputs, and engineering and manufacturing know-how.

We also license intellectual property to and from third parties.

While our portfolio provides meaningful competitive advantages, in general, we do not believe that any single patent, trademark, license or other intellectual property right or group of related intellectual property rights is of such importance that its loss or termination would have a material adverse effect on our business taken as a whole.

Raw Materials

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While there are a number of potential suppliers of carbon fiber and other raw materials used by AEC, the use of certain suppliers may be mandated by customer agreements, and alternative suppliers would be subject to material qualification or other requirements that may preclude or delay their availability.

In the case of mandated suppliers, AEC endeavors to enter into long-term supply agreements to help mitigate price and availability risks.

Currently, the primary raw materials used in each segment are derived from petroleum, and are therefore sensitive to changes in the price of petroleum and petroleum intermediates.

In the case of mandated suppliers, AEC endeavors to enter into long-term supply agreements to help mitigate cost and availability risks.

Currently, the primary raw materials used in each segment are derived from petroleum, and are therefore sensitive to changes in the cost of petroleum and petroleum intermediates.

Machine Clothing

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Albany Engineered Composites

The primary competitive factors in the markets in which our AEC segment competes are product performance, delivery performance, quality, and price.

Competitive factors in the markets in which our AEC segment competes are product performance, delivery performance, quality, and price.

Achieving lower weight without sacrificing strength is the key to improving fuel efficiency, which helps reduce the carbon emissions footprint of global aviation, and is a critical performance requirement in the aerospace industry.

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We believe that this culture boosts innovation and helps our people reach their full potential.

Our hiring strategy draws from diverse backgrounds to find the most qualified candidates.

Our hiring strategy seeks out people with varying backgrounds, knowledge, and experiences and results in

the most qualified candidates.

As of December 31, 2025, our total workforce is 28.0% female.

In the U.S., our headcount is approximately 2,400 employees, with 34.1% self-identifying as a minority.

Our talent management strategy includes developing our internal talent for promotion, hiring the best people from outside the company when no internal candidate is available, and using our internship program to identify future talent and build the talent pipeline.

Our talent management strategy focuses on developing our internal talent for promotion, hiring the best people from outside the company when no internal candidate is available, and using our internship program to identify future talent and build the talent pipeline.

We believe in continuous learning and development and offer various training opportunities, including on-the-job training, virtual courses, and external learning programs.

All employees regularly participate in safety, ethics, and compliance training.

Our four Leadership Training Programs are targeted at different segments of our employee population with programs for new and potential managers, more experienced leaders, and executives.

Our Leadership Training Programs are targeted at different segments of our employee population with programs for new and potential managers, more experienced leaders, and executives.

Our employees around the world enjoy competitive compensation and benefits.

In the U.S., this includes 401(k) matching, profit sharing, paid time off, health and dental insurance, and recognition programs, among others.

In the U.S., this includes 401(k) matching, profit sharing, generous vacation time, health and dental insurance, and recognition programs, among others.

We also emphasize work-life balance and well-being.

We support global human rights, aligning our policies with the United Nations Global Compact and the Universal Declaration of Human Rights.

Our strategy is to focus on the advantages inherent in our diverse workforce and promote an inclusive company culture.

In 2024, we launched an updated set of Albany Values focused on actions our employees can take to set the foundation for our future growth and success.

Our strategy is to focus on the advantages inherent in combining our individual strengths for collective success and promoting an inclusive company culture.

Our Albany Values focus on actions our employees can take to set the foundation for our future growth and success.

The Albany Values are as follows:

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We live these values every day at Albany.

Sustainability

Product Stewardship

Sustainability Business Impact and Value Creation

Our business is centered around driving success for our customers.

Our products are designed for performance and consistency, while enabling our customers to improve their environmental footprint through more sustainable and efficient processes and end products.

Our products are designed for performance and consistency, while enabling our customers to meet their organizational goals around product performance, process efficiency, and product sustainability.

As described above, our paper machine clothing products enable our paper-making customers to reduce their own environmental footprint by reducing their energy consumption, and improving both resource and operating efficiency.

Energy is one of the top three cost components in the paper making process.

For example, energy is one of the top three cost components in the paper making process;

our machine clothing solutions use innovative technologies to reduce the amount of heat energy required for paper production.

We continue to innovate and remain focused on developing and bringing to market proprietary products aimed at improving the energy and resource efficiency needed for our customers’ products and their production processes.

This includes further exploration into increasing both the use of recycled materials in our products, and improving the recyclability of our products at the end of their useful life.

In aerospace, weight savings that drive fuel efficiency are essential for aircraft producers, if the industry is to achieve its goals for sustainable aviation.

In aerospace, weight savings that drive fuel efficiency are essential for the industry to achieve its goals for sustainable aviation.

This fundamental design goal has driven the increased use of lightweight composite structures in an ever-broadening sphere of aerospace applications.

We have applied learnings from our 130 years of experience manufacturing machine clothing to pioneer 3D weaving technologies to manufacture our composite material.

The process involves layering and interweaving fibers in a precise, computer-controlled process to create complex, high-strength parts that allows for the production of lightweight and strong composite parts with high-performance properties.

This technology has the ability to produce parts with complex geometries and high-performance properties, such as high strength, stiffness and resistance to impact and fatigue making it well-suited for use in aerospace, defense and industrial applications.

The process involves layering and interweaving fibers in a precise process to create complex, high-strength parts that allows for the production of lightweight and strong composite parts with high-performance properties, well-suited for use in aerospace, defense and industrial applications.

These structurally demanding applications have historically been served by heavier, metallic structures, and traditional laminated composites do not possess the required structural characteristics that 3D woven can offer.

As such, our proprietary 3D woven technology expands the role that lightweight composites can serve as the next generation of aircraft is designed and built.

Our AEC business also develops solutions that champion sustainable energy.

Through innovative composite technologies and advanced manufacturing processes, we contribute to the creation of energy-efficient components, reducing the environmental footprint and bolstering the renewable energy sector.

Carbon Emissions Footprint

We are committed to responsible stewardship of the environment, which includes full compliance with environmental regulation everywhere we operate.

And we are committed to going beyond regulatory requirements, implementing responsible and intentional strategies to continually minimize our environmental impact.

We are proud to partner with an independent third-party enterprise climate platform to enhance measurement, reporting, and reduction of our carbon emissions.

We have enhanced our carbon accounting to include full disclosure of Scope 1, Scope 2 and Scope 3 emissions, which we report to CDP and in our annual Taskforce on Climate-related Financial Disclosures ("TCFD") Report.

This work has set the foundation for developing a climate transition plan to address both our products and services as well as our company operations and manufacturing footprint.

In 2023, we signed a commitment letter with the Science Based Targets Initiative ("SBTi") that commits us to establishing near-term Science-Based Targets.

In 2024, we agreed on a goal of reducing Scope 1 and Scope 2 emissions by 50% by 2030.

In support of this goal, we have signed a U.S.

virtual power purchase agreement ("VPPA"), which will reduce our Scope 2 emissions by about 25%.

This agreement gives us a strong head start on reaching our emissions reduction goal while we progress with additional on-site initiatives.

We continue to focus on the impact of our own operations by evaluating our risks and identifying actionable opportunities to drive meaningful improvement in our energy and emissions intensity, as well as our products’ environmental impact.

Water and Waste

Supporting customers through innovation and performance

This includes working with our partner on Product Carbon Footprints, leveraging AI to accelerate insights.

To support our customers we can design for circularity and product recycling at the end of life, and we can also design for lower Product Carbon Footprints.

Our customer objectives guide us in raw material and supplier selection as well as specialized partnerships for product recycling and reuse.

Since many of our customers have waste reduction and circularity goals, providing cutting edge solutions for product end of life has been an increasing focus for Albany International.

Additionally, many of our customers have Scope 3 emissions reduction goals, therefore we focus on our own operational efficiency and emissions reduction as an integral part of our customers’ value chain.

Driving business value for Albany International

As a global manufacturer, energy is a significant expense for Albany International, and therefore we have a goal of reducing our energy consumption and our associated Scope 1 and 2 emissions by 50% by 2030.

Energy consumption reductions are critical both in supporting our customers in their organizational sustainability goals, and to advance our own business strategy and operational resilience.

We have been progressing a number of global on-site solar initiatives where there is a compelling business case, which provides operational cost savings to our facilities as well as securing a portion of our energy supply, in addition to reducing our emissions.

We have invested in a virtual power purchase agreement (“VPPA”) related to our U.S.

operations, and where appropriate we have also been entering into renewable energy contracts, demonstrating our commitment to supporting our customers’ Scope 3 emissions reduction goals.

We are also committed to reducing waste, both from our own operations as well as our customers’, and we have a goal of zero waste to landfill by 2030 for our operations in the Americas and Europe.

We continue to look for opportunities to reduce waste generated across our operations and our products.

As a first step we strive to separate our waste streams across our operations including general waste, hazardous waste, electronic waste, carbon fiber/raw material waste, and compostable material.

Waste streams are collected via appropriate third parties, with the objective of optimizing reuse and minimizing waste to landfill.

Innovation and partnerships are key to our core business and our sustainability objectives.

In our AEC business, we work with a third-party specialist carbon fiber recycling company to recycle 3D woven fibers, water jet cut off carbon fibers, and long tow carbon fibers.

These materials are recycled and reused in applications such as thermoplastic (which can be recycled) and thermoset products, 3D printing, fiber reinforced concrete, textile yarn, and friction materials.

In our MC business, we work with a third-party specialist that collects scrap raw materials and converts it into plastic furniture.

As recycling technology advances, there are also increasing opportunities to use recycled raw materials in some of our manufacturing processes.

We continue to explore and trial various options and are pleased to have identified several recycled materials that meet our rigorous requirements, and which we will be using from 2024.

Supply Chain Footprint

We recognize the importance of maintaining value and quality throughout our supply chain.

We conduct our business ethically, legally, environmentally, and socially responsibly, and we expect the same from our suppliers.

Accordingly, we require our global suppliers to respect human rights, employ fair labor practices, and conduct business ethically, as outlined in our Supplier Code of Conduct.

In 2023, we began evaluating climate-related risks and opportunities in our value chain, including engaging with suppliers to understand their carbon footprints and driving efficiency in our global logistics.

Our procurement teams have also progressed a number of initiatives to drive efficiency and sustainability in our logistics.

Climate and Sustainability Reporting and Regulation

The past several years have seen an unprecedented increase in interest and focus on sustainability and climate change, with an associated increase in global regulation.

Various jurisdictions around the world in which we operate, including the European Union, the U.S., the United Kingdom, Australia, and certain U.S.

states, have proposed or adopted new regulations related to sustainability and climate reporting.

These and potential future regulations and policies, which include increased mandatory reporting, disclosure and assurance, including potential changes in procurement policies and procedures, could significantly increase our operational and compliance costs.

We closely monitor developments in sustainability- and climate-related regulation and their associated impacts on our operations.

As described above, we have a comprehensive sustainability program that seeks to manage the risks and opportunities associated with sustainability and climate change.

For more information on the risk of sustainability- and climate-related regulation, see Item 1A - Risk Factors.

We continue to look for opportunities to reduce waste generated across our operations and our products, and where waste materials have market value, to ensure they are repurposed appropriately.

In addition to partnering with several third parties who recycle and reuse our scrap materials in other applications such as plastic furniture, textile yarn, and reinforced concrete, we have engaged in several pilot programs through universities and start-ups to test new technologies to increase circularity and recycling for our products at the end of life.

We believe further developing this capability provides a significant benefit for our customers and partners.

Innovation has been integral to our story for over 130 years and continues to be a focus for Albany International.

As described above, we have a New Business Ventures group focused on broader applications of our proprietary technology, in consideration of broader macroeconomic trends and sustainability evolution.

Aligning with global frameworks for compliance and transparency

Compliance with global and local environmental regulation throughout our operations is a clear imperative both for our customers and for meeting our own organizational values and expectations.

We have a robust global and local EHS and sustainability program to ensure we continue to evolve our operations in line with regulatory and customer requirements, managing risk and opportunity.

This continuous evolution drives new insights for our business, and increasing reporting transparency provides the opportunity for greater comparability and collaboration across companies and industries.

A key element of our EHS and sustainability program is to identify material topics, through assessment of double materiality, to identify areas for improvement, discover new opportunities, and drive value creation.

This process also facilitates compliance and helps to articulate our unique stories of innovation and our value proposition.

Executive Officers

The following table sets forth certain information with respect to the executive officers of the Company as of February 26, 2025:

The following table sets forth certain information with respect to the executive officers of the Company:

Gunnar Kleveland, 56, President and Chief Executive Officer , joined the Company in 2023 and serves the Company as President and Chief Executive Officer.

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Kleveland was a fighter pilot in the Royal Norwegian Air Force (RNoAF).

Starr, 57, Executive Vice President and Chief Financial Officer, joined the Company in 2023.

Prior to joining the Company, he served for 18 months as Chief Financial Officer of Fairbanks Morse Defense, a privately-held supplier of naval power and propulsion systems.

He previously spent 12 years at Kaman Corporation where he served as Chief Financial Officer for eight years and VP, Treasurer for four years.

Before joining Kaman, Mr.

Starr held increasingly senior treasury roles at large publicly listed companies including Crane Co., Aetna and Fisher Scientific

International.

Early in his career he worked in investment banking both domestically and internationally across a broad range of industries.

Willard Station, 50, Executive Vice President and Chief Financial Officer, joined the Company in 2025.

Prior to joining the Company, Will served as Senior Vice President of Primary Care Sales for McKesson Medical-Surgical, a McKesson Corporation subsidiary, leading a team of more than 1,200 account executives and specialists supporting primary care physicians, ambulatory surgery centers, as well as community hospitals and laboratories.

Prior to that, he was the subsidiary’s Chief Financial Officer and Senior Vice President of Finance.

Will’s career also includes 16 years at The Boeing Company, where he held a number of increasingly senior finance roles, notably Vice President and Chief Financial Officer of Commercial Derivatives Airplanes and Director of Financial Operations for Boeing Commercial Airplanes (BCA).

Merle Stein, 49, President – Machine Clothing , joined the company in 2011.

He has considerable experience in the paper and pulp industries and significant knowledge of the Machine Clothing business and a strategic understanding of the markets it serves.

He comes to the role with considerably broad leadership experiences, particularly in operational and customer-facing operations.

From 2024 until becoming president, he had served as Division Chief Operating Officer for the business segment where he oversaw all operational aspects of the business and led the Sales & Marketing, Operations, Procurement and Human Resources functions.

Prior to that, he was the Vice President Sales & Marketing/Applications for Americas, after having served in various other sales and marketing leadership roles since joining the Company, including Vice President Sales MC - North America, Regional Business Director and Sales & Service Engineer.

He brings deep experience in the pulp and paper industry, extensive knowledge of the Machine Clothing business, and a strong strategic understanding of its markets.

His background includes broad leadership roles with a particular focus on operational excellence and customer-facing functions.

Before becoming President, he served as Division Chief Operating Officer beginning in 2024, overseeing all operational aspects of the segment and leading the Sales & Marketing, Operations, Procurement, R&D and Human Resources functions.

Earlier roles included Vice President Sales & Marketing/Applications for the Americas, as well as several other sales and marketing leadership positions such as Vice President Sales MC – North America, Regional Business Director.

Prior to joining the company, Mr.

Stein managed papermaking operations at Essity’s green field papermill in Alabama where he had risen to the position of Papermill Manager.

Stein managed papermaking operations at Essity’s greenfield mill in Alabama, ultimately rising to the role of Papermill Manager.

He earned a Bachelor’s degree in Chemical Engineering as well as an Executive MBA degree from Auburn University in Auburn, AL.

Chris Stone, 53, President – Albany Engineered Composites , joined the company in 2024.

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He previously served as Associate General Counsel from 2004 and as Associate General Counsel and Assistant Secretary from 2006 to May 2020.

Prior to 2004 he was a principal at the law firm of McNamee, Lochner, Titus & Williams, PC, where, among other clients, he had represented the Company in various matters as outside counsel.

Prior to 2004 he was a principal at the law firm of

McNamee, Lochner, Titus & Williams, PC, where, among other clients, he had represented the Company in various matters as outside counsel.

Hansen, 68, Senior Vice President and Chief Technology Officer, joined the Company in 1981.

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Before 2000, he served the Company in a number of technical management and research and development positions in Europe and the U.S.

Tedone, 60, Vice President – Controller and Chief Accounting Officer , joined the Company in 2023.

Sean Valashinas, 54, Vice President – Controller and Chief Accounting Officer , joined the Company in 2025.

Prior to joining the Company, Mr.

Tedone was the Chief Accounting Officer at Eos Energy Enterprises, Inc., a developer and manufacturer of energy storage solutions, where he oversaw the accounting, SEC reporting, tax, treasury, and risk management functions.

Prior to Eos Energy Enterprises, Inc., Mr.

Tedone served as Vice President, Finance and Chief Accounting Officer of Lydall, Inc.

He previously spent 16 years at Kaman Corporation where he served as the Vice President, Finance and Chief Accounting Officer from 2007 to 2020.

Earlier in his career he held finance and accounting roles of increasing responsibility at Diageo NA, United Technologies Corp., and KPMG.

We are incorporated under the laws of the State of Delaware and are the successor to a New York corporation originally incorporated in 1895, which was merged into the Company in August 1987 solely for the purpose of

changing the domicile of the corporation.

Valashinas served as Vice President of Accounting, Treasury, and Tax at Resonetics.

Previously, he spent 17 years at Standex International Corporation, where he held roles of Chief Accounting Officer, Assistant Treasurer, and Vice President of Finance for the Standex Engineering Technologies Group.

Valashinas began his career at PricewaterhouseCoopers and later held management roles at The Hershey Company.

References to the Company that relate to any time prior to the August 1987 merger should be understood to refer to the predecessor New York corporation.

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Available Information

Our principal executive offices are located at 216 Airport Drive, Rochester, New Hampshire 03867.

Our principal executive offices are located at 325 Corporate Drive, Portsmouth, New Hampshire 03801.

Our telephone number is 603-330-5800 and our website is www.albint.com.

Our current reports on Form 8-K, quarterly reports on Form 10-Q, and annual reports on Form 10-K, proxy statements for our annual stockholders' meetings and amendments to those reports are electronically filed with the Securities and Exchange Commission (the “SEC”), and all such reports and amendments to such reports filed subsequent to November 15, 2002, have been and will be made available, free of charge, through our website at www.albint.com as soon as reasonably practicable after such filing.

made available, free of charge, through our website at www.albint.com as soon as reasonably practicable after such filing.

In addition, copies of our Annual Report on Form 10-K will be made available, free of charge, upon written request.

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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business