Kadant Inc. (NYSE:KAI) today announced it received an order totaling
approximately $7 million from a paper producer in Southern Europe for
recycled fiber processing equipment to be used in the production of
packaging.
“We are pleased to have been selected to provide this turn-key recycled
fiber processing line for a major rebuild project in Southern Europe,”
commented Jonathan W. Painter, president and chief executive officer of
Kadant. “This rebuild is significant in that it is part of a broader
trend of converting a machine’s production from printing and writing
grades to containerboard used for packaging. As these types of
conversions make increasingly more economic sense to the paper industry,
Kadant is well positioned to leverage its expertise and broad product
offerings used in containerboard production.”
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 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
quarterly 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; currency fluctuations; 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.
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