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Kadant Carmanah Receives Order for OSB Line Upgrade at Tolko Industries’ High Prairie Mill

Kadant Carmanah Receives Order for OSB Line Upgrade at Tolko Industries’ High Prairie Mill

Surrey, British Columbia, July 27, 2017 – Kadant Carmanah Design, a subsidiary of Kadant Inc. (NYSE: KAI), received an order for two pocket batch feeders from Tolko Industries Ltd. for an OSB line upgrade at its High Prairie facility in Alberta, Canada. The equipment is expected to be online in the first quarter of 2018, when the High Prairie facility resumes operation after a market-related shutdown.

“We’re very happy to see this mill resume operation and to be awarded the order for critical equipment for the OSB line upgrade, said Michael Colwell, president of Kadant Carmanah. “Tolko and Kadant Carmanah share a long history of partnering to make the best solutions possible.”

About Kadant

Kadant Carmanah Design, based in Surrey, British Columbia, is the global leader in the supply of technology and equipment used in the manufacture of strands for production of oriented strand board (OSB) and other engineered wood products. The Company’s stranders, rotary debarkers, and conveying and feeding equipment optimize fiber use and productivity in the production of wood-based panels.

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 approximately 2,300 employees in 20 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 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 December 31, 2016 and subsequent filings with the Securities and Exchange Commission. These include risks and uncertainties relating to adverse changes in global and local economic conditions; the variability and difficulty in accurately predicting revenues 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; 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; economic conditions and regulatory changes caused by the United Kingdom’s likely exit from the European Union; 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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