Kadant Receives Order for Nearly $4 Million from Whiteboard Producer in China
ACTON, Mass.--(BUSINESS WIRE)--May 6, 2004--Kadant Inc. (NYSE:KAI) has received another order for stock-preparation equipment valued at nearly $4 million - this one from a Chinese producer of recycled whiteboard, a high-quality printable packaging material. The company's Kadant Black Clawson Inc. subsidiary will supply advanced pulping, screening, and cleaning technologies to remove contaminants from recycled pulp and prepare usable fiber for entry into the paper machine.
"China's strong demand for recycled packaging materials continues to drive sales of our stock-preparation systems," said William A. Rainville, chairman and chief executive officer of Kadant. "Since the beginning of April, we've received three major orders from China totaling nearly $11 million, including this and an earlier order for whiteboard production. A key advantage that we have in China, aside from our local presence, is our ability to offer technology for recycling both brown and white fibers for different grades of paper. We continue to build on our leading market position in China for this type of equipment by introducing new products, such as our recently patented ID2/ID3 system that offers advanced screening technology and a retrofit option for existing screening systems."
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 supplier of a range of products for the global papermaking and paper recycling industries, including stock-preparation equipment, water-management systems, and paper machine accessories. We also develop and manufacture composite building materials produced from recycled fiber and plastic. Kadant, based in Acton, Massachusetts, had approximately $204 million in revenues in 2003 and 1,000 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 our stock-preparation business and opportunities and plans in China. 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 3, 2004. These include risks and uncertainties relating to our dependence on the pulp and paper industry; international sales and operations; competition; ability to manufacture and distribute composite building products, and the 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; acquisition strategy; 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:
Kadant Inc.
Thomas M. O'Brien, 978-776-2000
or
Media contact:
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SOURCE: Kadant Inc.