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Restructuring
12 Months Ended
Dec. 31, 2014
Restructuring [Abstract]  
Restructuring

6. Restructuring

Machine Clothing restructuring expense in 2013 and 2014 was principally related to the reduction in manufacturing capacity at production facilities in France, while 2012 expense principally resulted from work force reductions in Sweden, and U.S. operations in Wisconsin and New York.

 

During the second quarter of 2013, the Company commenced a program to restructure operations at the Company's Machine Clothing production facilities in France. The restructuring reduced employment by approximately 200 positions at these locations. Under the terms of the restructuring plan, the Company provides training, outplacement and other benefits, the costs of which are recorded as restructuring when they are incurred. 

 

Restructuring expenses in the Albany Engineered Composites operations were principally related to organizational changes and exiting certain aerospace programs.

 

The following table summarizes charges reported in the Consolidated Statements of Income under “Restructuring and other, net”:

 

Year ended December 31, 2014 Total
restructuring
Termination and 

Impairment of

plant and

Benefit plan
curtailment/
(in thousands)      costs incurred      other costs      equipment      settlement  
Machine Clothing     $4,828     $5,769     $-    
$(941
Albany Engineered Composites     931     319     612     -  
Corporate expenses     -     -     -     -  
Total     $5,759     $6,088     $612    
$(941

 

Year ended December 31, 2013 Total
restructuring
Termination and 

Impairment of

plant and

Benefit plan
curtailment/
(in thousands)    costs incurred        other costs        equipment      settlement
Machine Clothing   $24,568       $25,838       $-       $(1,270 )
Albany Engineered Composites   540       452       88       -  
Corporate expenses   -       -       -       -
Total   $25,108       $26,290       $88       $(1,270 )

 

Year ended December 31, 2012 Total
restructuring
Termination and

Impairment of

plant and

Benefit plan
curtailment/
(in thousands)  costs incurred    other costs      equipment    settlement  
Machine Clothing $7,386   $7,386     $-     $-  
Albany Engineered Composites -   -     -   -  
Corporate expenses (325 )   380     (705 )   -  
Total $7,061   $7,766     $(705 )   $-  

We expect that substantially all Accrued liabilities for restructuring liabilities will be paid within one year. The table below presents the changes in restructuring liabilities for 2014 and 2013, all of which related to termination costs:

 

  December 31,   Restructuring           Currency   December 31,
(in thousands)   2013   charges accrued     Payments   translation/other   2014
                             
Total Termination costs   $ 9,656     $ 6,088     $ (13,240   $ (630   $ 1,874  

 

December 31,   Restructuring            Currency   December 31,
(in thousands) 2012   charges accrued     Payments   translation/other   2013
                           
Total Termination costs $ 4,947     $ 26,408     $ (22,478 )   $ 779     $ 9,656  

 

On February 20, 2015, the Company announced plans to discontinue operations at its press fabric manufacturing facility in Göppingen, Germany. This planned action is driven by the continuing consolidation of paper industry customers in Europe, and the continuous need to match the Company's paper machine clothing manufacturing capacity in Europe with the demands of our customers, so that customer sourcing is optimized. The Göppingen plan would be subject to applicable local law and would be implemented in accordance with such law and in consultation with the Works Council.   The Company is presently unable to determine the restructuring costs associated with this plan.