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Kadant Authorizes Share Repurchase

Westford, Massachusetts, USA, 26 October 2011 -- (BUSINESS WIRE) -- Kadant Inc. (NYSE:KAI) announced today that its board of directors has authorized the repurchase of up to USD 30 million of its equity securities, effective 06 November 2011 through 06 November 2012.

Repurchases may be made in public or private transactions, including under Securities Exchange Act Rule 10b-5-1 trading plans. The timing and amount of any repurchases will be at the discretion of company management and will be based on market conditions and other considerations, including limitations contained in the credit agreement entered into on 13 February 2008. Through 26 October 2011, under the existing USD 20 million authorization that will expire on 05 November 2011, the company has repurchased 429,715 shares of its common stock for an aggregate purchase price of approximately USD 9.4 million.

Kadant Inc. is a leading supplier to the global pulp and paper industry. The company's stock-preparation, fluid-handling, doctoring, and water-management equipment and systems are designed to increase efficiency and improve quality in pulp and paper production. The company also produces granules from papermaking byproducts for agricultural and lawn and garden applications. Kadant is based in Westford, Massachusetts, had revenues of USD 270 million in 2010, and has 1600 employees in 16 countries worldwide. For more information, visit www.kadant.com.


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