8-K

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K
                                 CURRENT REPORT

     Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) May 1, 2005

                           ALBANY INTERNATIONAL CORP.
- --------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

          Delaware                        0-16214                 14-0462060
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(State or other jurisdiction            (Commission            (I.R.S. Employer
      of incorporation)                File Number)          Identification No.)

            1373 Broadway, Albany, New York                         12204
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       (Address of principal executive offices)                   (Zip Code)

Registrant's telephone number, including area code (518) 445-2200

                                      None
- --------------------------------------------------------------------------------
         (Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

|_|   Written communications pursuant to Rule 425 under the Securities Act (17
      CFR 230.425)

|_|   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)

|_|   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

|_|   Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13a-4(c))



Item 1.01 Entry into a Material Definitive Agreement

On May 1, 2005, Albany International Corp. (the "Company") amended Exhibit A to
the Receivables Purchase and Sale Agreement (the "Agreement") among Albany
International Receivables Corporation, Albany International Corp., and the other
Company affiliates selling receivables under the Agreement. The purpose of the
amendment was to amend the Historical Loss Factor (as defined in the Agreement)
to reflect recent historical loss experience. (The Agreement has previously been
filed as Exhibit 10(j)(i).) A copy of this amendment is furnished as Exhibit
99.1 to this report.

Albany International Receivables Corporation is a "Qualified Special Purpose
Entity" under Financial Accounting Standards Board No. 140 and is a wholly owned
subsidiary of Albany International Corp.



                                    Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                      ALBANY INTERNATIONAL CORP.

                                      By: /s/ Michael C. Nahl
                                          -------------------------------

                                      Name: Michael C. Nahl
                                      Title: Executive Vice President and
                                      Chief Financial Officer
                                      (Principal Financial Officer)

Date: May 2, 2005



                                  EXHIBIT INDEX

Exhibit No.       Description
- -----------       -----------
99.1              Third Amendment (dated May 1, 2005) to Receivables Purchase
                  and Sale Agreement, dated as of September 28, 2001, among the
                  Registrant and other affiliates of Registrant as Originators,
                  and Albany International Receivables Corporation as the Buyer.

EX-99.1

                                  Exhibit 99.1

                  ALBANY INTERNATIONAL RECEIVABLES CORPORATION

Albany International Corp.
Geschmay Corp.
Albany International Research Co.
Albany International Techniweave, Inc.
Albany International Canada Corp.

         Re: Third Amendment to Exhibit A to Purchase and Sale Agreement dated
             as of September 28, 2001 (the "Agreement")

Ladies and Gentlemen:

      The undersigned, Albany International Receivables Corporation, as Buyer
under the Agreement, hereby proposes to further amend Exhibit A of the
Agreement, pursuant to the terms of such Exhibit A as well as Section 8.1 of the
Agreement, as follows:

      The Historical Loss Factor, which was initially described as 0.6% of the
      Face Amount of receivables sold to Buyer, and has been amended from time
      to time to reflect actual historical loss experience, is hereby amended to
      0.08%.

      These changes in pricing terms shall be effective as of May 1, 2005.
Capitalized terms used but not defined above shall have the meanings ascribed to
them in the Agreement.

      Please indicate your acceptance of the foregoing by executing in the space
provided below your name.

                                              Very truly yours,

                                              ALBANY INTERNATIONAL
                                              RECEIVABLES CORPORATION

                                              By: /s/
                                                  ------------------------------
                                                  David C. Michaels
                                                  President & Treasurer



ACCEPTED BY:

ALBANY INTERNATIONAL CORP.

By: /s/
    -------------------------------------
Name:  Charles J. Silva, Jr.
Title: Vice President and General Counsel

GESCHMAY CORP.

By: /s/
    -------------------------------------
Name:  Charles J. Silva, Jr.
Title: Vice President and Secretary

ALBANY INTERNATIONAL RESEARCH CO.

By: /s/
    -------------------------------------
Name:  Charles J. Silva, Jr.
Title: Vice President

ALBANY INTERNATIONAL TECHNIWEAVE, INC.

By: /s/
    -------------------------------------
Name:  Charles J. Silva, Jr.
Title: Secretary

ALBANY INTERNATIONAL CANADA CORP.

By: /s/
    -------------------------------------
Name:  Edward Walther
Title: President