Kadant Achieves Goal of Sourcing 100% of its Electricity from Renewable Resources
September 30 2021 - 9:10AM
Kadant Inc. (NYSE: KAI) announced it has achieved one of its 2021
climate goals of sourcing 100 percent of the electricity it uses
from renewable sources for its operating sites worldwide. The
Company purchased renewable energy certificates, representing
electricity generated from renewable resources, covering all
non-renewable electricity usage across all its businesses. As a
result, Kadant’s greenhouse gas emissions related to electricity
usage have been eliminated and its global greenhouse gas footprint
from all sources has dropped 30 percent compared to 2020 levels.
“This achievement was the next step in our ongoing
sustainability commitment to move away from traditional sources of
electricity generation and supporting cleaner renewable energy
alternatives,” said Jeffrey L. Powell, president and chief
executive officer of Kadant. “I am proud of the progress our
businesses have been making to further reduce our energy
consumption while helping our customers efficiently use renewable
natural resources in their manufacturing processes.”
Kadant’s most recent corporate sustainability report can be
viewed at www.kadant.com/about-us/sustainability. The report
highlights the Company’s continued commitment and progress on
environmental, social, and governance (ESG) initiatives.
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 approximately 2,900 employees in 21 countries
worldwide. For more information, visit www.kadant.com.
Safe Harbor StatementThe 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,
technologies, and markets. These forward-looking statements
represent our expectations as of the date of this press release. We
undertake no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events,
or otherwise. These forward-looking statements are subject to known
and unknown risks and uncertainties that may cause our actual
results to 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 fiscal year ended January 2, 2021 and subsequent
filings with the Securities and Exchange Commission. These include
risks and uncertainties relating to the impact of the COVID-19
pandemic on our operating and financial results; adverse changes in
global and local economic conditions; the variability and
difficulty in accurately predicting revenues from large capital
equipment and systems projects; health epidemics; our acquisition
strategy; levels of residential construction activity; reductions
by our wood processing customers of their capital spending or
production of oriented strand board; changes to the global timber
supply; development and use of digital media; cyclical economic
conditions affecting the global mining industry; demand for coal,
including economic and environmental risks associated with coal;
failure of our information systems or breaches of data security and
cybertheft; implementation of our internal growth strategy; price
increases or shortages of raw materials; competition; changes in
our tax provision or exposure to additional tax liabilities; our
ability to successfully manage our manufacturing operations;
disruption in production; future restructurings; loss of key
personnel and effective succession planning; protection of
intellectual property; climate change; adequacy of our insurance
coverage; global operations; policies of the Chinese government;
the variability and uncertainties in sales of capital equipment in
China; currency fluctuations; economic conditions and regulatory
changes caused by the United Kingdom’s exit from the European
Union; changes to government regulations and policies around the
world; compliance with government regulations and policies and
compliance with laws; environmental laws and regulations;
environmental, health and safety laws and regulations impacting the
mining industry; our debt obligations; restrictions in our credit
agreement and note purchase agreement; substitution of an
alternative index for LIBOR; soundness of financial institutions;
fluctuations in our share price; and anti-takeover provisions.
ContactsInvestor Contact Information:Michael
McKenney, 978-776-2000IR@kadant.comorMedia Contact Information:Wes
Martz, 269-278-1715media@kadant.com
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