Albany International Corp Says Strategic Review Results In Amended CH-53K Contract, New Business Wins, Improved Profitability; Contract Modification Expected To Generate Positive Cash Flow Beginning In 2027; Retains Salt Lake City Facility After Renegotiated Boeing 787 And Sikorsky CH-53K Contracts

Albany International Corp. (NYSE:AIN) today announced the completion of the strategic review of its Amelia Earhart Drive facility in Salt Lake City, Utah. Following new business wins, a renegotiated Boeing 787 contract for one-piece composite fuselage frames, and new contract terms with Sikorsky, a Lockheed Martin Company, on the CH-53K®program, Albany will retain the facility and end the previously announced strategic review. Under the new agreement with Sikorsky, Albany will continue with its current production scope on CH-53K, having improved the financials for the program. Albany partnered with Sikorsky to ensure continuity of production of these heavy lift helicopters, delivering a critical new capability for the United States Marine Corps.