Kadant Expands Water Management Product Offering with M-Clean Papertech Acquisition

 

WESTFORD, Mass., August 26, 2011 -- Kadant Inc. (NYSE:KAI) recently expanded its product lines with the acquisition of M-Clean Papertech AB, a Europe-based supplier of paper machine fabric and roll cleaning systems. The acquisition was completed in May 2011 and the company will be re-named Kadant M-Clean AB. Based in Husqvarna, Sweden, Kadant M-Clean AB manufactures the MultiJet™ modular cleaning system used for fabric and roll cleaning. The acquisition of the high-efficiency cleaning product line expands Kadant's water-management product line and will be sold and serviced by Kadant's existing global sales and service network.

 

"With more than 350 installations throughout Europe, China, and Asia-Pacific, the MultiJet product line adds increased depth to Kadant's water-management offerings to the paper industry and further strengthens our market position in Europe and China," said Jonathan W. Painter, president and chief executive officer of Kadant Inc. "The high-performance cleaning system has demonstrated success in helping papermakers extend fabric life and improve machine runnability and we are looking forward to completing the integration of the M-Clean business into our organization."

 

About Kadant

Kadant is a leading supplier to the global pulp and paper industry. Our stock-preparation, fluid-handling, doctoring, and water-management equipment and systems are designed to increase efficiency and improve quality in pulp and paper production. Many of our products, particularly in our fluid-handling product line, are also used to optimize production in other process industries. In addition, we produce granules from papermaking byproducts for agricultural and lawn and garden applications. Kadant is based in Westford, Massachusetts, with revenues of $270 million in 2010 and 1,600 employees in 16 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, technologies, and customers. 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 July 2, 2011. These include risks and uncertainties relating to our dependence on the pulp and paper industry; significance of sales and operation of manufacturing facilities in China; our ability to expand capacity in China to meet demand; commodity and component price increases or shortages; international sales and operations; competition; soundness of suppliers and customers; our effective tax rate; future restructurings; soundness of financial institutions; our debt obligations; restrictions in our credit agreement; litigation and warranty costs related to our discontinued operation; our acquisition strategy; protection of patents and proprietary rights; 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.

 

 

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