Kadant Awarded $10 Million Order for Fiber Processing Systems
December 14 2020 - 4:30PM
Kadant Inc. (NYSE: KAI) announced it received two orders to supply
recycled fiber processing systems from a containerboard producer in
Asia with a value of approximately $10 million. The equipment will
be used to process recycled corrugated boxes and produce top liner
used in corrugated packaging. The orders were booked in the fourth
quarter of 2020 and are expected to ship in 2021.
“We are pleased to have been selected to supply the fiber
processing systems for these recycled containerboard machines,”
said Jeffrey L. Powell, president and chief executive officer of
Kadant. “Our leading position in fiber processing technology
combined with our strong reputation for providing high-performance
equipment were critical factors in being awarded this order.”
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 2,700 employees in 20 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 year ended December 28, 2019 and subsequent filings
with the Securities and Exchange Commission.
ContactsInvestor Contact Information:Michael
McKenney, 978-776-2000IR@kadant.comorMedia Contact Information:Wes
Martz, 269-858-2748media@kadant.com
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