Kadant awarded $28M in new orders |
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Wed, 07 Mar 2007 18:23
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WESTFORD, Mass. (AP) - Kadant Inc., which manufactures paper-producing equipment, said Wednesday that a subsidiary has been awarded five orders totaling $28 million from several Asia-based customers.Kadant Black Clawson Inc. received three orders worth about $18 million from one company.It received another two contracts worth more than $10 million from other Asia customers, but said down payments have not been received yet. The company expects to get it in the second quarter.'All this business, which was included in our 2007 revenue and earnings guidance, gives us increased confidence in our ability to achieve our targets for 2007,' William A. Rainville, the company's chairman and chief executive officer, said in a statement.Shares of Kadant added 10 cents to $22.98 in morning trading on the New York Stock Exchange.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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