Albany International makes two distinct types of engineered materials products. The Machine Clothing (MC) segment makes custom-designed fabrics and belts used in paper manufacturing — consumable, highly engineered products woven from polymeric materials that physically run on paper machines. Each product is custom-engineered for a specific machine, paper grade, and mill configuration, making switching suppliers operationally risky for customers and creating strong recurring revenue. MC also makes similar fabrics for non-paper industrial applications. Albany Engineered Composites (AEC) makes advanced composite components for aerospace and defense, primarily engine parts and structural components. The centerpiece is the LEAP engine program, where Albany is the exclusive supplier of composite fan blades and fan cases through a joint venture with Safran, using proprietary 3D-woven technology. The LEAP engine powers the Airbus A320neo, Boeing 737 MAX, and COMAC 919. Other AEC programs include components for the F-35, CH-53K helicopter, JASSM/LRASM missiles, and the GE9X engine. MC (~60% of revenue) is the cash generation engine, running at high-20s to low-30% adjusted EBITDA margins. AEC (~40% of revenue) is the growth segment, running at lower margins and currently in an investment phase. AEC growth is driven by the LEAP production ramp, defense and missile programs, and Albany's push to use its 3D-woven composites as a titanium replacement in aerospace structures.