Kadant Appoints Joaquim Ribeiro to Board of Directors
ACTON, Mass.--(BUSINESS WIRE)--March 10, 2004--Kadant Inc. (NYSE:KAI) has appointed Mr. Joaquim Ribeiro to its board of directors. He will also serve on the audit committee of the board. Mr. Ribeiro, age 67, has held numerous finance and audit positions in public companies and private education during his career. He spent more than 25 years with Jamesbury Corp. of Worcester, a leading industrial valve manufacturer, at the time it was a publicly traded company. He served in various engineering, technical sales, information technology, and finance roles there, and was vice president and chief financial officer for 12 years before leaving in 1984.
Mr. Ribeiro then held financial positions at Worcester Polytechnic Institute (WPI), where he was a vice president and treasurer during the 1980s, and served in similar roles at Northfield Mt. Hermon School in western Massachusetts in the late 1990s until his retirement in 2002. Throughout his professional life, Mr. Ribeiro has been involved in management consulting and corporate governance for both private and public businesses as well as non-profit institutions, including R.H. White Construction Companies, Bank of Boston Regional Board, Memorial Hospital (now UMass Memorial Medical Center), and Central Mass Healthcare HMO.
"I look forward to having Joe serve as a director," said William A. Rainville, chairman and chief executive officer of Kadant. "His knowledge of the paper industry through his work at Jamesbury and the finance and audit expertise he has developed throughout his career will be an asset to our board."
Mr. Ribeiro earned a BS degree in aeromechanics engineering from WPI, and an MBA in economics and finance from Clark University.
Kadant Inc. is a leading supplier of a range of products for the global papermaking and paper recycling industries, including stock-preparation equipment, water-management systems, and paper machine accessories. We also develop and manufacture composite building materials produced from recycled fiber and plastic. Kadant, based in Acton, Massachusetts, had revenues of approximately $204 million in 2003 and 1,000 employees worldwide. For more information, please visit www.kadant.com.
CONTACT: Investor contact:
Kadant Inc.
Thomas M. O'Brien, 978-776-2000
or
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SOURCE: Kadant Inc.