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KADANT ACQUIRES PAALGROUP

KADANT acquires PAALGROUP.pdf

Kadant Acquires the PAALGROUP

 

WESTFORD, Mass.--(BUSINESS WIRE)--Apr. 4, 2016-- Kadant Inc. (NYSE: KAI) announced today that it has acquired all of the outstanding shares of RT Holding GmbH, the parent corporation of a group of companies known as the PAALGROUP (PAAL). PAAL manufactures channel balers and related equipment used in the processing of recyclable and waste materials. The company is headquartered in Germany and has operations in Germany, the United Kingdom, France, and Spain.  “Our acquisition of PAAL broadens our product portfolio and extends our presence deeper into recycling and waste management,” said Jonathan W. Painter, president and chief executive officer of Kadant Inc. “With its strong aftermarket business and emphasis on product innovation, PAAL is an excellent fit with Kadant.”

 

Franzotto Hornung, president and chief executive officer of PAAL, commented, “We are excited to join Kadant and become a part of this dynamic organization. Kadant’s global platform and business model offers a number of exciting opportunities to extend PAAL’s leading market position in Europe to geographic regions around the globe.”

 

PAAL was founded in 1854 in Osnabrück, Germany. Its primary products include horizontal balers and conveyors used to process various materials including paper, plastic, and metal. The company is the leading European manufacturer of channel balers with a global presence.

 

About Kadant

 

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 $390 million in fiscal 2015 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 our customers, products, 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 2, 2016. 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; the effect of currency fluctuations on our financial results; 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.

 

View source version on businesswire.com: http://www.businesswire.com/news/home/20160404005895/en/

 

Source: Kadant Inc.

 

Kadant Inc.
Investor contact:
Michael McKenney, 978-776-2000
Or
Media contact:
Wes Martz, 269-278-1715
 

Over the last 34 years, Dicom Limited has become the UK`s leading manufacturer and supplier of static and portable waste compactors. The waste compactors are designed and developed for durability, high performance and ease of operation. This is important to organisations wishing to reduce the frequency and cost of waste collections or where space and hygiene are important factors. This is achieved by significantly reducing the ratio of waste from its original volume. Dependent upon the type of material, a Dicom waste compactor can reduce the waste volume by a ratio of 4:1. This ensures that maximum payloads are achieved with each container. Dicom's portable waste compactors can be supplied with several standard options, such as: liquid retentive seals to prevent food waste leakage, bin lifting equipment for lug and comb type waste containers, choice of standard hopper – open splayed, enclosed, dock loading. The static compactors are also available with a range of hopper options and tipping mechanisms and are available in a range of sizes to suit all volumes. Our equipment can be seen working in almost any industry including manufacturing, retail, leisure, hospitals, restaurants, food production, HM Forces, transport, schools & colleges, warehousing and is often used by waste and recycling contractors to process materials such as cardboard, plastics, food and general waste. Our products meet a range of wide and varied requirements, including the latest health and safety standards, and we offer a range of payment options from outright purchase, rental or lease; so regardless of your waste handling needs, Dicom have the solution.