WESTFORD, Mass., February 7, 2024 -- Kadant Inc. (NYSE: KAI) announced the acquisition of FrontWay AB (“FrontWay”) was completed on December 19, 2023.
FrontWay provides fiber processing industries with simulation software and consulting services for process optimization. Founded in 2004 with a focus on pulp and paper industries, the company is headquartered in Norrköping, Sweden and will become part of Kadant’s Industrial Processing reporting segment.
“As part of Kadant’s Fiber Processing group, FrontWay is supported by over 150 years of fiber processing expertise,” said Michael Colwell, vice president of Kadant. “Expanding our fiber processing technology capabilities with FrontWay’s process simulation, training, and consulting services provides our customers with access to a broader array of services and solutions.”
Anders Nilsson, FrontWay’s founder and owner, commented, “We are proud of the market position we have built as a supplier to the European pulp and paper industry. As a global leader in fiber processing technologies, Kadant is a great fit for our business, and we are excited for opportunities to grow as a part of Kadant.”
About Kadant
Kadant Inc. is a global supplier of technologies and engineered systems that drive Sustainable Industrial Processing. The Company’s products and services play an integral role in enhancing efficiency, optimizing energy utilization, and maximizing productivity in process industries. Kadant is based in Westford, Massachusetts, with approximately 3,400 employees in 20 countries worldwide. For more information, visit www.kadant.com.
Safe Harbor Statement
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 markets. These forward-looking statements represent our expectations as of the date of this press release. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause our actual results to 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 fiscal year ended December 31, 2022 and subsequent filings with the Securities and Exchange Commission.
Source: Kadant
