Albany International Corp. said Thursday it plans to shut down its Mansfield, Mass. plant, and move its operations at other plants in Europe and North America.
The closure will affect about 80 employees and is expected to be completed by year-end, the company said.
Albany International said the move is part of an ongoing, company-wide effort to streamline operations. Affected employees will be offered the chance to relocate, or severance and outplacement assistance, the company said.
Shares of Albany International, a textiles and materials processing company, rose 84 cents, or 2.4 percent, to $36 in afternoon trading.
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