WESTFORD, Mass.--(BUSINESS WIRE)--Mar. 30, 2016--
Kadant Inc. (NYSE:KAI) announced it received two orders for its wood
processing equipment with a combined total of approximately $5 million.
The orders included multiple batch feeding systems and strander systems
for OSB (oriented strand board) producers in France and Malaysia. The
strander and batch infeed systems are expected to be delivered and
commissioned in the second half of 2016.
“We are pleased to be awarded these new orders from major OSB producers
in Europe and Asia,” said Jonathan W. Painter, president and chief
executive officer of Kadant. “Both of these orders represent important
growth opportunities for Kadant. The order in Malaysia reinforces the
increasing acceptance of OSB as an economical alternative to plywood for
applications such as construction, furniture, and packaging while the
order in Europe represents an opportunity to grow our market share as
European customers value the safe and reliable operation of our
equipment.”
Kadant Carmanah Design, based in Surrey, British Columbia, is the global
leader in the supply of technology and equipment used in the manufacture
of strands for production of oriented strand board (OSB) and other
engineered wood products. Kadant Carmanah Design is a division of Kadant
Inc. subsidiary Kadant Canada Corp.
Kadant Inc. (NYSE:KAI) 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 $390 million in 2015
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
annual report on Form 10-K for the year ended January 2, 2016. These
include risks and uncertainties relating to adverse changes in global
and local economic conditions; the variability and difficulty in
accurately predicting revenues 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; 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/20160330006401/en/
Source: Kadant Inc.
Kadant Inc.
Investor contact:
Michael McKenney, 978-776-2000
or
Media
contact:
Wes Martz, 269-278-1715
