WESTFORD, Mass.--(BUSINESS WIRE)--Kadant Inc. (NYSE:KAI) announced it received two orders for its wood processing equipment with a combined total of approximately $5 million. The orders included multiple batch feeding systems and strander systems for OSB (oriented strand board) producers in France and Malaysia. The strander and batch infeed systems are expected to be delivered and commissioned in the second half of 2016.
“We are pleased to be awarded these new orders from major OSB producers in Europe and Asia,” said Jonathan W. Painter, president and chief executive officer of Kadant. “Both of these orders represent important growth opportunities for Kadant. The order in Malaysia reinforces the increasing acceptance of OSB as an economical alternative to plywood for applications such as construction, furniture, and packaging while the order in Europe represents an opportunity to grow our market share as European customers value the safe and reliable operation of our equipment.”
Kadant Carmanah Design, based in Surrey, British Columbia, is the global leader in the supply of technology and equipment used in the manufacture of strands for production of oriented strand board (OSB) and other engineered wood products. Kadant Carmanah Design is a division of Kadant Inc. subsidiary Kadant Canada Corp.
Kadant Inc. (NYSE:KAI) 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 $390 million in 2015 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 annual report on Form 10-K for the year ended January 2, 2016. These include risks and uncertainties relating to adverse changes in global and local economic conditions; the variability and difficulty in accurately predicting revenues 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; 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.