Kadant Receives Orders Exceeding USD 6 Million Fom North American Customers
Westford, Massachusetts, USA, 28 November 2006 -- (BUSINESS WIRE) -- Kadant Inc. (NYSE:KAI) today announced that it has received two separate orders with a combined value of over USD 6 million from customers in North America. One of the orders is for a system that will use recycled fiber for the production of gypsum wallboard. The other order is from a paper producer for heat transfer equipment to reduce energy consumption in the mill. Both systems will be supplied by the company's Kadant Black Clawson Inc. subsidiary.
Kadant Black Clawson Inc., based in Mason, Ohio, is a leading fiberline process equipment supplier that designs, manufactures, and services equipment used in paper recycling, chemical pulping, and paper machine approach-flow applications.
Kadant Inc. is a leading supplier to the global pulp and paper industry, with a range of products and services for improving efficiency and quality in pulp and paper production, including paper machine accessories, and systems for stock preparation, fluid handling, and water management. The company's fluid-handling products are also used to optimize production in the steel, rubber, plastics, food, and textile industries. In addition, Kadant produce granules from papermaking byproducts for agricultural and lawn and garden applications. Kadant is based in Westford, Massachusetts. the company had revenues of USD 244 million in 2005. It employs approximately 2000 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 demand for our products and the advantages and benefits of our products and technologies in paper and other industries. 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 quarterly report on Form 10-Q for the period ended September 30, 2006. These include risks and uncertainties relating to our dependence on the pulp and paper industry; significance of sales from China; international sales and operations; competition; our debt obligations; restrictions in our credit agreement; retention of liabilities and warranty claims associated with composite building products manufactured prior to the sale of the business; our ability to successfully integrate Kadant Jining; our acquisition strategy; our ability to realize the anticipated benefits from the restructuring of our French subsidiary; the impact of high natural gas prices on the manufacture of fiber-based products; availability of raw materials related to the manufacture of fiber-based products; protection of patents and proprietary rights; fluctuations in quarterly operating results; 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.