Kadant Receives Order for Nearly $4 Million from Whiteboard Producer in China.Business Editors ACTON, Mass.--(BUSINESS WIRE)--May 6, 2004 Kadant Inc. (NYSE NYSE See: New York Stock Exchange :KAI) has received another order for stock-preparation equipment valued at nearly $4 million - this one from a Chinese producer of recycled whiteboard, a high-quality printable packaging material. The company's Kadant Black Clawson Inc. subsidiary will supply advanced pulping, screening, and cleaning technologies to remove contaminants from recycled pulp and prepare usable fiber for entry into the paper machine. "China's strong demand for recycled packaging materials continues to drive sales of our stock-preparation systems," said William A. Rainville, chairman and chief executive officer of Kadant. "Since the beginning of April, we've received three major orders from China totaling nearly $11 million, including this and an earlier order for whiteboard production. A key advantage that we have in China, aside from our local presence, is our ability to offer technology for recycling both brown and white fibers for different grades of paper. We continue to build on our leading market position in China for this type of equipment by introducing new products, such as our recently patented ID2/ID3 system that offers advanced screening technology and a retrofit option for existing screening systems." Kadant Black Clawson Inc., based in Mason, Ohio Mason is a city in southwestern Warren County, Ohio, United States. As of the 2000 census, Mason's population was 22,016. It was the fastest-growing and most populous city in the county. Until February 1997, it was part of Deerfield Township. , is a leading fiberline process equipment supplier that designs, manufactures, and services equipment used in paper recycling Paper recycling is the process of recovering waste paper and remaking it into new paper products. There are three categories of paper that can be used as feedstocks for making recycled paper: mill broke, pre-consumer waste, and post-consumer waste. , chemical pulping, and paper machine approach-flow systems. Kadant Inc. is a leading supplier of a range of products for the global papermaking and paper recycling industries, including stock-preparation equipment, water-management systems, and paper machine accessories. We also develop and manufacture composite building materials Building materials used in the construction industry to create . These categories of materials and products are used by and construction project managers to specify the materials and methods used for . produced from recycled fiber and plastic. Kadant, based in Acton, Massachusetts Acton is a suburban town in Middlesex County, Massachusetts, United States about twenty-one miles west-northwest of Boston along Route 2 west of Concord and about eleven miles (18 km) southwest of Lowell. The population was 20,331 at the 2000 census. , had approximately $204 million in revenues in 2003 and 1,000 employees worldwide. For more information, please visit www.kadant.com. The following constitutes a "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: This press release contains forward-looking statements that involve a number of risks and uncertainties, including forward-looking statements regarding our stock-preparation business and opportunities and plans in China. Important factors that could cause actual results to differ materially from those indicated by such statements are set forth under the heading "Risk Factors" in Kadant's year-end report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended January 3, 2004. These include risks and uncertainties relating to our dependence on the pulp and paper industry The global pulp and paper industry is dominated by North American (United States, Canada), northern European (Finland, Sweden) and East Asian countries (such as Japan). Australasia and Latin America also have significant pulp and paper industries. ; international sales and operations; competition; ability to manufacture and distribute composite building products, and the seasonality in sales and the long-term performance of such products; availability of raw materials and exposure to commodity price fluctuations related to the manufacture of composite and fiber-based products; acquisition strategy; protection of patents and proprietary rights; fluctuations in quarterly operating results; 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. |
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