Awarded First US Order for Channel Baler
Appoints
Distributor for Material Recycling Market in U.S. and Canada
WESTFORD, Mass.--(BUSINESS WIRE)--Jan. 26, 2017--
Kadant Inc. (NYSE:KAI) announced today it has appointed Bulk Handling
Systems (BHS) as the exclusive distributor of its high-performance
balers to material recycling facilities in the U.S. and Canada. Through
BHS, Kadant has been awarded its first U.S. order for a channel baler to
be installed at the regional waste recovery facility in Monterey,
California.
The appointment of BHS represents another important step in Kadant’s
strategy to drive revenue synergies following its April 2016 acquisition
of PAAL GROUP, the leading European manufacturer of horizontal balers
used to process both recyclable materials, including paper and plastics,
and non-recyclable materials such as treated household/commercial waste
and agricultural products.
“We are pleased to be entering this segment of the North American
recycling market with BHS, a leader in the design and manufacture of
large scale sorting systems. Our high quality, German-engineered balers
are uniquely aligned with BHS’ commitment to performance and quality. We
are honored that Kadant’s first U.S. baler will be part of the advanced
materials recovery facility BHS is constructing in Monterey, California.
This facility will be operated by the Monterey Regional Waste Management
District, an award-winning 65-year-old operation recognized as one of
the best solid waste systems in North America,” said Jonathan Painter,
president and chief executive officer of Kadant Inc.
“We believe Kadant’s channel baler offers our customers a combination of
cutting-edge technology and performance that is uniquely well suited to
the needs of sophisticated, large-scale recycling facilities. We look
forward to partnering on future projects that require efficient,
high-quality equipment,” noted Steve Miller, chief executive officer of
BHS.
Kadant will debut its balers in the U.S. market at the Waste Expo 2017,
which takes place in New Orleans May 9-11.
About Kadant
Kadant Inc. (NYSE:KAI) 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 2,000 employees in 18 countries
worldwide. For more information, visit www.kadant.com.
About Bulk Handling Systems (BHS)
Headquartered in Eugene, Oregon, BHS is a worldwide leader in the
innovative design, engineering, manufacturing, and installation of
sorting systems and components for the solid waste, recycling,
waste-to-energy, and construction and demolition industries.
Wholly-owned subsidiaries include Nihot, NRT, and Zero Waste Energy. For
more information, visit www.bulkhandlingsystems.com.
Safe Harbor Statement
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 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 2, 2016 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 revenues from large capital equipment and systems
projects; the variability and uncertainties in sales of capital
equipment in China; currency fluctuations; our customers’ ability to
obtain financing for capital equipment projects; changes in government
regulations and policies; 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; economic conditions and
regulatory changes caused by the United Kingdom’s likely exit from the
European Union; 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/20170126005668/en/
Source: Kadant Inc.
Kadant Inc.
Investor Contact Information:
Michael McKenney,
978-776-2000
mike.mckenney@kadant.com
or
Media
Contact Information:
Wes Martz, 269-278-1715
wes.martz@kadant.com
