Kadant: Share Repurchase
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Westford, Massachusetts - Kadant Inc. (NYSE: KAI) announced that its Board of Directors has authorized the repurchase of up to an additional $20 million of its equity securities effective May 17, 2017 through May 17, 2018. Repurchases may be made in public or private transactions, including under Securities Exchange Act Rule 10b-5-1 trading plans. The timing and amount of any repurchases will be at the discretion of Company management and will be based on market conditions and other considerations, including limitations contained in our credit agreement entered into on March 1, 2017. Through May 17, 2017, under the existing $20 million authorization that will expire on May 18, 2017, the Company has not repurchased any shares of its common stock.
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 2,000 employees in 18 countries worldwide. For more information, visit www.kadant.com.