Westford, Massachusetts, USA 20 January 2015 -- (BUSINESS WIRE) -- Kadant Inc. (NYSE:KAI) today announced that at the end of the fourth quarter it received orders totaling $11 million from three pulp and paper producers in the U.S. and Mexico for chemical pulping equipment and recycling system upgrades. The chemical pulping equipment will be used to recover chemicals in the kraft pulping process and the stock-preparation recycling systems will be used to process recycled fiber for use in paper production. The Company expects to report consolidated bookings for the fourth quarter of 2014 of approximately $103 million.
"The favorable investment environment for chemical pulp and recycling projects in North America has resulted in these projects being converted to orders," said Jonathan W. Painter, president and chief executive officer of Kadant. "We were pleased to have been recognized for our equipment reliability and energy efficient offerings as our customers continue to seek solutions to improve energy utilization, reduce water consumption, and increase fiber yield."
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 revenues of $344 million in 2013 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 quarterly report on Form 10-Q for the period ended September 27, 2014. These include risks and uncertainties relating to our dependence on process industries; significance of sales and operation of manufacturing facilities in China; oriented strand board market and levels of residential construction activity; commodity and component price increases or shortages; dependence on certain suppliers; international sales and operations; our acquisition strategy; our internal growth strategy; fluctuations in currency exchange rates; 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.