WESTFORD, Mass.--(BUSINESS WIRE)--Jan. 29, 2016--
Kadant Inc. (NYSE:KAI) announced it received orders totaling $7 million
from two paper producers in North America for chemical pulping equipment
and a recycled fiber processing line. The chemical pulping equipment
will be used to recover chemicals in the kraft pulping process and the
recycled fiber processing system for the production of linerboard. The
orders were booked in the fourth quarter of 2015 and are expected to
ship in 2016.
“We are pleased to have been selected to supply the fiber processing
system for these significant projects which reinforces our leading
position in both chemical pulping equipment and recycled fiber
processing systems used in the production of packaging,” said Jonathan
W. Painter, president and chief executive officer of Kadant.
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 $402 million in fiscal 2014
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 customers,
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 annual report on Form 10-K for the year ended January 3, 2015
and subsequent filings with the Securities and Exchange Commission.
These include risks and uncertainties relating to adverse changes in
global and local economic conditions; the variability and difficulty in
accurately predicting revenue from large capital equipment and systems
projects; the variability and uncertainties in sales of capital
equipment in China; the effect of currency fluctuations on our financial
results; our customers’ ability to obtain financing for capital
equipment projects; changes in government regulations and policies; the
oriented strand board market and levels of residential construction
activity; development and use of digital media; price increases or
shortages of raw materials; dependence on certain suppliers;
international sales and operations; disruption in production; our
acquisition strategy; our internal growth strategy; 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160129005604/en/
Source: Kadant Inc.
Kadant Inc.
Investor contact:
Michael McKenney, 978-776-2000
or
Media
contact:
Wes Martz, 269-278-1715
