Albany International is a small cap that combines the cash generation potential of a value stock with the revenue potential of a growth stock.
Cash generation is provided by Albany's legacy core business, Machine Clothing, that serves the global paper and other process industries. Our solution-based, custom-designed consumable fabrics and belts are used in the manufacture of every type of paper and board, from tissue and paper toweling to newsprint and corrugated boxboard. It is the global leader in a mature market; while it offers no growth, it provides consistently strong cash generation.
Albany Engineered Composites (AEC) offers intense growth potential with its unique composite technology, currently utilized in the aerospace and defense industries with potential in the high-end automotive market. As the sole-source provider of fan blades and fan cases for the CFM* LEAP engine and with the recently acquired aerostructures business of Harris Corporation, AEC is on track to be a $300-$500 million business by the end of the decde.
*CFM is a 50/50 joint company between Safran and GE.