Kadant Corporate

News Release

Thermo Fibertek Appoints John Albertine to Board of Directors

June 20, 2001 at 9:27 AM EDT

WALTHAM, Mass., June 20 /PRNewswire/ -- Thermo Fibertek Inc. (Amex: TFT) has appointed Dr. John M. Albertine, age 57, a director of the company. Dr. Albertine is an executive officer of High Street(TM) Capital Management, L.L.C., a financial management partnership, and chief executive officer of Albertine Industries, a merchant-banking firm, both located in Washington, D.C.

Dr. Albertine is also founder of Jam Shoe Concepts, owner and operator of a chain of family shoe stores in the Midwest and a national chain of women's shoe stores, and was vice chairman of the Fruit of the Loom Company from 1986 to 1990.

"Jack is a true entrepreneur," said William A. Rainville, president and chief executive officer of Thermo Fibertek. "His diverse economic and business background, combined with his creativity and high energy, will serve us well as we begin a new chapter as an independent public company - called Kadant.

I look forward to working with Jack to build on the strength of our core papermaking systems business by pursuing promising growth opportunities, such as fiber-based composite building products. This is an exciting time for us, and I'm pleased that Jack will play a role in forming our new company."

Dr. Albertine has served on numerous public-company boards; was formerly president of the American Business Conference, founded by Arthur Levitt, Jr.; and was executive director of the Congressional Joint Economic Committee under Chairman Senator Lloyd Bentsen. Dr. Albertine also headed a presidential committee on aviation safety under President Reagan. He holds a Ph.D. in economics from the University of Virginia.

Thermo Fibertek Inc. develops, manufactures, and markets a range of equipment and products for the domestic and international papermaking and paper recycling industries, including de-inking systems, stock-preparation equipment, water-management systems, and accessories. Through its majority- owned Thermo Fibergen subsidiary, the company also develops and commercializes composite building materials produced from natural fiber and recycled plastic. Thermo Fibertek is a public subsidiary of Thermo Electron Corporation. More information is available at www.thermofibertek.com.


SOURCE Thermo Fibertek Inc.

CONTACT: Investor: 781-622-1111 or Media: 781-622-1252 of Thermo Electron/

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