WESTFORD, Mass.--(BUSINESS WIRE)--May 28, 2015--
Kadant Inc. (NYSE:KAI) announced it received three orders for its wood
processing equipment with a combined total of approximately $7 million.
The orders included a batch feeding system and two SmartRing™ strander
systems for OSB (oriented strand board) producers in the U.S., Hungary,
and Belgium.
“We continue to see our customers investing in technologies and
solutions that help them increase their operating efficiency and total
output,” said Jonathan W. Painter, president and chief executive officer
of Kadant. “These orders demonstrate the high value OSB producers place
on reliable, heavy-duty wood-processing equipment and we are pleased to
be recognized for our products and service in these demanding production
environments.”
The SmartRing strander systems and the batch feeder will be used in the
production of OSB engineered wood panels. The batch feeder is expected
to be shipped and commissioned in the second half of 2015, while the
stranding systems will ship and be commissioned in the first half of
2016.
About Kadant
Kadant Inc. is a global supplier of high-value, critical components and
engineered systems used in process industries worldwide. The company’s
products, technologies, and services play an integral role in enhancing
process efficiency, optimizing energy utilization, and maximizing
productivity in resource-intensive industries. Kadant is based in
Westford, Massachusetts, with revenues of $402 million in fiscal year
2014 and 1,800 employees in 18 countries worldwide. For more
information, visit www.kadant.com.
The following constitutes a “Safe Harbor” statement under the Private
Securities Litigation Reform Act of 1995: This press release contains
forward-looking statements that involve a number of risks and
uncertainties, including forward-looking statements about the timing of
shipments and our products, customers, and technologies. Our actual
results may differ materially from these forward-looking statements as a
result of various important factors, including those set forth under the
heading "Risk Factors" in Kadant’s annual report on Form 10-K for the
year ended January 3, 2015 and subsequent filings. These include risks
and uncertainties relating to adverse changes in global and local
economic conditions; the variability and difficulty in accurately
predicting revenue from large capital equipment and systems projects;
the variability and uncertainties in sales of capital equipment in
China; currency fluctuations; our customers’ ability to obtain financing
for capital equipment projects; changes in government regulations and
policies; the oriented strand board market and levels of residential
construction activity; development and use of digital media; price
increases or shortages of raw materials; dependence on certain
suppliers; international sales and operations; disruption in production;
our acquisition strategy; our internal growth strategy; competition;
soundness of suppliers and customers; our effective tax rate; future
restructurings; soundness of financial institutions; our debt
obligations; restrictions in our credit agreement; loss of key
personnel; reliance on third-party research; protection of patents and
proprietary rights; failure of our information systems or breaches of
data security; fluctuations in our share price; and anti-takeover
provisions. We undertake no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future events, or otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150528006659/en/
Source: Kadant Inc.
Kadant Inc.
Investor contact:
Thomas M. O’Brien, 978-776-2000
or
Media
contact:
Wes Martz, 269-278-1715
