Kadant Receives Recycling System Order from Specialty Packaging Producer
WESTFORD, Mass., May 05, 2011 (BUSINESS WIRE) -- Kadant Inc. (NYSE:KAI) today announced that its Kadant Lamort SAS subsidiary has received an order for a stock-preparation system valued at approximately $6 million from a specialty packaging and paper producer. The system will be primarily used to recycle coated board and is designed to process a variety of pre- and post-consumer waste including poly-coated board and mixed office grades.
"We were pleased to have been selected for this project which is part of a major rebuild at the mill," said Jonathan W. Painter, president and chief executive officer of Kadant. "After the mill concluded extensive trials at several locations around the globe, including at our pilot plant in Vitry, France, we were awarded the contract based on our equipment's ability to produce the highest quality pulp to be used in the production of multi-ply boxboard for packaging specialty goods. Our system layout and compact footprint were also key factors in the mill's selection of Kadant as the preferred supplier."
Kadant is a leading supplier to the global pulp and paper industry. Our stock-preparation, fluid-handling, doctoring, and water-management equipment and systems are designed to increase efficiency and improve quality in pulp and paper production. Many of our products, particularly in our fluid-handling product line, are also used to optimize production in other process 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 $270 million in 2010 and 1,600 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 products and future performance. 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 annual report on Form 10-K for the period ended January 1, 2011. 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; our ability to expand capacity in China to meet demand; commodity and component price increases or shortages; international sales and operations; competition; soundness of suppliers and customers; our effective tax rate; future restructurings; soundness of financial institutions; our debt obligations; restrictions in our credit agreement; litigation and warranty costs related to our discontinued operation; our acquisition strategy; protection of patents and proprietary rights; 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