EXHIBIT (10.9) SECURITIES PURCHASE AGREEMENT

EXECUTION VERSION

EXHIBIT (10.9)

SECURITIES PURCHASE AGREEMENT

     This SECURITIES PURCHASE AGREEMENT, dated as of May 21, 2009 (this “Agreement”), is by and between Albany International Corp., a corporation organized under the laws of Delaware (the “Company”), and Citadel Equity Fund Ltd., a company organized under the laws of the Cayman Islands (the “Noteholder”).

     WHEREAS, the Noteholder is the beneficial owner of $40,000,000 in aggregate principal amount of the Company’s 2.25% Convertible Senior Notes Due 2026 (the “Convertible Notes”);

     WHEREAS, the Noteholder has requested that the Company exchange certain principal amounts of the Convertible Notes beneficially owned by the Noteholder for (i) equal aggregate principal amounts of the Company’s 2.25% Senior Notes due 2026 (the “Securities”) plus (ii) cash in the amount of $7.50 per $1,000 principal amount of Convertible Notes delivered for exchange available from cash on hand at the Company plus (iii) accrued but unpaid interest on the Convertible Notes delivered for exchange (each such transaction, an “Exchange”); and

     WHEREAS, on each of the First Closing Date and the Second Closing Date, immediately following each Exchange, the Noteholder desires to sell, and the Company desires to purchase, upon the terms and subject to the conditions set forth in this Agreement, $20,000,000 in aggregate principal amount of the Securities beneficially owned by the Noteholder for certain purchase prices per Security set forth below, which purchase prices will be paid from cash on hand and/or a borrowing under the Company’s Revolving Credit Facility (as defined below) (each such transaction, a “Repurchase”).

     NOW, THEREFORE, in consideration of the foregoing and the covenants, agreements and warranties contained herein, the sufficiency of which as consideration is hereby acknowledged, the parties agree as follows:

1. Definitions. When used herein, the following terms shall have the indicated meanings:

     “Encumbrance” means any pledge, hypothecation, assignment, lien, restriction, charge, claim, security interest, option, preference, priority or other preferential arrangement of any kind or nature whatsoever.

     “Exchange Agreement” means the Exchange Agreement dated as of the date hereof by and between the Company and the Noteholder.

     “First Closing Date” means July 1, 2009, or such other date as the parties may mutually agree upon in writing.

     “Purchase Price” means in respect of (i) the Securities purchased on the First Closing Date, an amount equal to $622.50 per $1,000 principal amount of Securities purchased on such date and (ii) the Securities purchased on the Second Closing Date (as defined below), an amount equal to $647.50 per $1,000 principal amount of the Securities purchased on such date.

     “Revolving Credit Facility” means the credit facility established by the $460,000,000 Five-Year Revolving Credit Facility Agreement, dated as of April 14, 2006, among the Company, the lenders party thereto, JPMorgan Chase Bank, N.A., as Administrative Agent, and J.P. Morgan Europe Limited, as London Agent, as amended from time to time.

     “Second Closing Date” means October 1, 2009, or such other date as the parties may mutually agree upon in writing.

2. Sale and Purchase. (a) Upon the terms and subject to the conditions of this Agreement, on each of the First Closing Date and the Second Closing Date (each such date, a “Closing Date”), the Noteholder shall sell to the Company free and clear of any and all Encumbrances, and the Company shall purchase from the Noteholder, $20,000,000 in aggregate principal amount of the Securities held by the Noteholder.

(b) Subject to the satisfaction or waiver of the conditions contained in this Agreement, the transactions contemplated by this Agreement shall occur at 10:00 a.m. (New York City time) on each Closing Date.

(c) On each Closing Date, the Company shall pay the Purchase Price to the Noteholder by wire transfer of immediately available funds to the following bank account (or to such other account as the Noteholder shall indicate to the Company in writing no less than three (3) business days before the relevant Closing Date):

against delivery of the Securities by the Noteholder to the Company for cancellation.

2

3

4

5

or to such other person or address as a party hereto may designate for itself by notice given as herein provided.

6

[Remainder of page intentionally left blank]

7

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and delivered as of the date first above written.

     Signature Page
Purchase Agreement