WESTFORD, Mass.--(BUSINESS WIRE)--Kadant Inc. (NYSE:KAI) announced it received three orders for its wood processing equipment with a combined total of approximately $7 million. The orders included a batch feeding system and two SmartRing strander systems for OSB (oriented strand board) producers in the U.S., Hungary, and Belgium.
We continue to see our customers investing in technologies and solutions that help them increase their operating efficiency and total output
We continue to see our customers investing in technologies and solutions that help them increase their operating efficiency and total output, said Jonathan W. Painter, president and chief executive officer of Kadant. These orders demonstrate the high value OSB producers place on reliable, heavy-duty wood-processing equipment and we are pleased to be recognized for our products and service in these demanding production environments.
The SmartRing strander systems and the batch feeder will be used in the production of OSB engineered wood panels. The batch feeder is expected to be shipped and commissioned in the second half of 2015, while the stranding systems will ship and be commissioned in the first half of 2016.
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 year 2014 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 the timing of shipments and our products, customers, 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 annual report on Form 10-K for the year ended January 3, 2015 and subsequent filings. These include risks and uncertainties relating to adverse changes in global and local economic conditions; the variability and difficulty in accurately predicting revenue from large capital equipment and systems projects; the variability and uncertainties in sales of capital equipment in China; currency fluctuations; our customers ability to obtain financing for capital equipment projects; changes in government regulations and policies; the oriented strand board market and levels of residential construction activity; development and use of digital media; price increases or shortages of raw materials; dependence on certain suppliers; international sales and operations; disruption in production; our acquisition strategy; our internal growth strategy; 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.
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