Kadant Receives $10.3 Million in Orders for Stock-Preparation Equipment
ACTON, Mass.--(BUSINESS WIRE)--March 28, 2005--Kadant Inc. (NYSE:KAI) has received four orders for stock-preparation equipment totaling $10.3 million from international and North American customers. The systems will be supplied by the company's Kadant Black Clawson Inc. subsidiary.
Two of the orders are for new Chemi-Washer(R) systems that will be used in chemical pulping applications and one is for a rebuild of an existing system. The Chemi-Washer offers a single-machine approach to pulp washing, combining simple operation with superior water economy to achieve high washing efficiencies. The entire process is self-contained to prevent emissions and provide an environmentally friendly pulp-washing solution. The fourth order is for an advanced de-inking system that will be used to remove inks and other contaminants from recycled fiber for the production of tissue.
"With these Chemi-Washer orders, we've now received more than $11 million in orders for this product so far this year," said William A. Rainville, chairman and chief executive officer of Kadant. "All these orders demonstrate the range of technologies we can offer for specific applications as well as the support we can provide for our global customers, who need to improve quality while lowering operating costs and meeting environmental needs."
Kadant Black Clawson Inc., based in Mason, Ohio, is a leading fiberline process equipment supplier that designs, manufactures, and services equipment used in paper recycling, chemical pulping, and paper machine approach-flow systems.
Kadant Inc. is a leading global supplier of a range of products that improve quality and productivity in pulp and paper production, including stock-preparation equipment, water-management systems, and paper machine accessories. Kadant, based in Acton, Massachusetts, had approximately $195 million in revenues from continuing operations in 2004 and 950 employees worldwide. For more information, please 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 regarding the performance of our products and global capabilities. Important factors that could cause actual results to differ materially from those indicated by such statements are set forth under the heading "Risk Factors" in Kadant's year-end report on Form 10-K for the fiscal year ended January 1, 2005. These include risks and uncertainties relating to our dependence on the pulp and paper industry; international sales and operations; competition; acquisition strategy; our ability to complete the proposed restructuring of our French subsidiary; ability to sell the composite building products business on favorable terms; ability to manufacture and distribute composite building products, and the economic conditions, seasonality in sales, and the long-term performance of such products; availability of raw materials and exposure to commodity price fluctuations related to the manufacture of composite and fiber-based products; protection of patents and proprietary rights; fluctuations in quarterly operating results; 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.
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SOURCE: Kadant Inc.