Kadant Receives $11 Million in Recycling Orders from Russia and China
WESTFORD, Mass.--(BUSINESS WIRE)--Sept. 13, 2007--Kadant Inc. (NYSE:KAI) today announced that it has received orders for two stock-preparation systems with a combined value of approximately $11 million for paper and liner board producers in Russia and China. The orders, which will be supplied by subsidiaries of Kadant, are for a stock-preparation system for a 120 ton per day tissue mill and for a stock-preparation system for a 1,000 ton per day OCC system to produce linerboard.
"These orders demonstrate Kadant's global reach as well as the acceptance of our technology throughout the world" said William A. Rainville, chairman and chief executive officer of Kadant. "We continue to see strong demand for our products in Eastern Europe and Russia as the paper industry in that region expands."
Kadant Inc. is a leading supplier to the global pulp and paper industry, with a range of products and services for improving efficiency and quality in pulp and paper production, including paper machine accessories and systems for stock preparation, fluid handling, and water management. Our fluid-handling products are also used to optimize production in the steel, rubber, plastics, food, and textile industries. In addition, we produce granules from papermaking byproducts for agricultural and lawn and garden applications. Kadant is based in Westford, Massachusetts, with revenues of $342 million in 2006 and 2,000 employees in 16 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 technologies, demand for our products and potential opportunities. 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 quarterly report on Form 10-Q for the period ended June 30, 2007. These include risks and uncertainties relating to our dependence on the pulp and paper industry; significance of sales and operation of manufacturing facilities in China; international sales and operations; competition; our debt obligations; restrictions in our credit agreement; our discontinued operation; our acquisition strategy; future restructurings; factors influencing our 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.
CONTACT: Investor contact:
For Kadant Inc.
Thomas M. O'Brien, 978-776-2000
SOURCE: Kadant Inc.