Kadant: $7 Million Order
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Westford, Massachusetts - Kadant Inc. (NYSE:KAI) announced it received an order totaling approximately $7 million from a paper producer in Southern Europe for recycled fiber processing equipment to be used in the production of packaging.
“We are pleased to have been selected to provide this turn-key recycled fiber processing line for a major rebuild project in Southern Europe,” commented Jonathan W. Painter, president and chief executive officer of Kadant. “This rebuild is significant in that it is part of a broader trend of converting a machine’s production from printing and writing grades to containerboard used for packaging. As these types of conversions make increasingly more economic sense to the paper industry, Kadant is well positioned to leverage its expertise and broad product offerings used in containerboard production.”
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 $402 million in fiscal 2014 and 1,800 employees in 18 countries worldwide. For more information, visit www.kadant.com.