WESTFORD, Mass.--(BUSINESS WIRE)--Nov. 23, 2015--
Kadant Inc. (NYSE:KAI) today announced it received an order totaling
approximately $3 million from a tissue producer in Latin America for a
fiber processing line to produce pulp from virgin fiber and recycled
“mill broke” fiber. The turnkey project features Kadant’s new compact
fiber processing system concept designed specifically for virgin fiber
pulping applications.
“As a well-regarded supplier of recycled fiber processing equipment, we
are pleased to be recognized for our advances in virgin fiber processing
equipment with this order from a major tissue producer in Latin
America,” said Jonathan W. Painter, president and chief executive
officer of Kadant. “This turnkey order includes some of our latest
design concepts in fiber processing equipment that more efficiently and
effectively produce pulp from both virgin and recycled sources allowing
the producer to compete more cost-effectively.”
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 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 our products
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
quarterly report on Form 10-K for the year ended January 3, 2015 and
subsequent filings with the Securities and Exchange Commission. 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; the effect of currency fluctuations on our financial
results; 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/20151123005677/en/
Source: Kadant Inc.
Kadant Inc.
Investor contact:
Michael McKenney, 978-776-2000
or
Media
contact:
Wes Martz, 269-278-1715
