Kadant

#3528

Rank

$2.56B

MarketCap US

US United States

Country

Summary
Kadant Inc. supplies technologies and engineered systems worldwide. It operates through three segments: Flow Control, Industrial Processing, and Material Handling. The Flow Control segment develops, manufactures, and markets fluid-handling systems and equipment, such as rotary joints, syphons, turbulator bars, expansion joints, and engineered steam and condensate systems; and doctoring, cleaning, and filtration systems and related consumables, consisting of doctor systems and holders, doctor blades, shower and fabric-conditioning systems, formation systems, and water-filtration systems. The Industrial Processing segment develops, manufactures, and markets ring and rotary debarkers, stranders, chippers, logging machinery, industrial automation and control systems, recycling and approach flow systems, and virgin pulping process equipment for use in the packaging, tissue, wood products, and alternative fuel industries. The Material Handling segment offers conveying and vibratory equipment, and balers and related equipment; and manufactures and sells biodegradable absorbent granules for carriers in as carriers in agricultural, home lawn and garden, professional lawn, turf, and ornamental applications, as well as for oil and grease absorption. The company was formerly known as Thermo Fibertek Inc. and changed its name to Kadant Inc. in July 2001. Kadant Inc. was incorporated in 1991 and is headquartered in Westford, Massachusetts.

History

The company was established as Thermo Fibrotek in 1991 as a wholly owned subsidiary of Thermo Electron:?9 of Exhibit 13? as part of its parent's strategy to innovate and grow by creating subsidiaries that were privately owned in part, and publicly traded in part. Its initial focus was paper making and paper recycling equipment.In 1996 the company set up a subsidiary, Thermo Fibergen, which it in turn made partially publicly traded, to focus on technologies to recover products from paper-making waste products; that company in turn acquired Granulation Technology, Inc. and created a division called GranTek that produced granules from sludge that were used, for example, as a carrier for agricultural chemicals and pesticides. The original plan was that Fibergen would build its plants adjacent to paper-making plants to process their waste, but this plan failed because it required paper-making plants to commit to long-term contracts to dispose of their waste, which they were unwilling to do. The granule business became the focus of Fibergen, helped in part by enzymologist Anatole Klyosov.In 1997 the company acquired Black Clawson for $110 million.In 2001, Thermo Electron fully spun out Thermo Fibrotek, which changed its name to Kadant at the same time; the Fibrogen division was renamed to Kadant Composites at the same time. The granule business of Kadant Composites took off when the company started using it as a filler in composite plastics products for decking, with sales growing from under $2 million in 2001 to $15 million in 2004.In 2013 the company acquired Carmanah Design and Manufacturing Inc. for Canadian dollars 54 million in cash, or approximately US$52 million.


Mission
Our mission is to be the global leader in enhancing productivity in the process industries we serve and delight our customers.

Vision
Our vision is to create an innovative and sustainable platform for long-term profitable growth that appeals to a global customer base.

Key Team

Mr. Peter J. Flynn (Sr. VP)

Ms. Deborah S. Selwood (Sr. VP & Chief Accounting Officer)

Ms. Dara F. Mitchell (Sr. VP of Corp. Devel.)

Mr. Wesley A. Martz (VP of Marketing)

Mr. Orrin H. Bean (Treasurer)


Recognition and Awards
Kadant has been recognized by two of the world's most highly-respected business research and consulting firms. In 2016, Forrester Research named Kadant a leader for supply chain and service parts management, and in 2018, Gartner recognized Kadant as a Challenger in its Magic Quadrant for Industrial Software and Platforms.

References
Kadant
Leadership team

Mr. Jeffrey L. Powell (Pres, CEO & Director)

Mr. Michael J. McKenney (Exec. VP & CFO)

Ms. Stacy D. Krause (Sr. VP, Gen. Counsel & Sec.)

Products/ Services
Industrial, Manufacturing, Recycling
Number of Employees
1,000 - 20,000
Headquarters
Westford, Massachusetts, United States
Established
1991
Company Registration
SEC CIK number: 0000886346
Net Income
100M - 500M
Revenue
500M - 1B
Traded as
KAI
Social Media
Fri Mar 01 2024
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