WESTFORD, Mass.--(BUSINESS WIRE)--Jan. 20, 2015--
Kadant Inc. (NYSE:KAI) today announced that at the end of the fourth
quarter it received orders totaling $11 million from three pulp and
paper producers in the U.S. and Mexico for chemical pulping equipment
and recycling system upgrades. The chemical pulping equipment will be
used to recover chemicals in the kraft pulping process and the
stock-preparation recycling systems will be used to process recycled
fiber for use in paper production. The Company expects to report
consolidated bookings for the fourth quarter of 2014 of approximately
$103 million.
“The favorable investment environment for chemical pulp and recycling
projects in North America has resulted in these projects being converted
to orders,” said Jonathan W. Painter, president and chief executive
officer of Kadant. “We were pleased to have been recognized for our
equipment reliability and energy efficient offerings as our customers
continue to seek solutions to improve energy utilization, reduce water
consumption, and increase fiber yield.”
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
$344 million in 2013 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-Q for the period ended September 27, 2014.
These include risks and uncertainties relating to our dependence on
process industries; significance of sales and operation of manufacturing
facilities in China; oriented strand board market and levels of
residential construction activity; commodity and component price
increases or shortages; dependence on certain suppliers; international
sales and operations; our acquisition strategy; our internal growth
strategy; fluctuations in currency exchange rates; 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.
Source: Kadant Inc.
Kadant Inc.
Investor contact:
Thomas M. O’Brien, 978-776-2000
or
Media
contact:
Wes Martz, 269-278-1715
