Kadant South America Announced the Acquisition of Certain Assets from Solcera do Brasil Advanced Materials Ltda.
October 1, 2019—Valinhos, Brazil–Kadant South America Ltda., a subsidiary of Kadant Inc. (NYSE: KAI), has completed the acquisition of certain assets from Solcera do Brasil Advanced Materials Ltda. for the manufacturing of ceramic dewatering elements for pulp and paper machines.
The manufacture of ceramic materials and related services previously offered by Solcera will now be provided by Kadant South America. These materials and services include ceramic dewatering elements, ceramic covers, ceramic cyclones, as well as services related to the product line. Solcera will continue to sell ceramic products and services to other industrial market sectors outside of pulp and paper.
"We are excited about this new chapter in the history of Kadant South America and the opportunities we believe this asset acquisition will present to us," said Rodrigo Vizotto, president of Kadant South America.
Solcera is currently a successor to a venture initiated in Brazil more than 35 years ago between Wilbanks and Coors and subsequently acquired by Saint Gobain and then transferred to Vinhedo. A few years later, the venture became controlled by Coorstek and served several industrial market sectors before being acquired by Solcera. The assets acquired by Kadant South America relate only to the pulp and paper industry. Throughout its successful history, the business has sold the largest base of ceramic covers installed in Brazil, exported to several companies in South America, and has been characterized by the strong reputation of the quality of its products.
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 2,800 employees in 20 countries worldwide. For more information, visit www.kadant.com.
Solcera do Brasil Advanced Materials Ltda. is a subsidiary of Solcera Materials Advanced, a French company specializing in engineering solutions for the mining, steel, home appliances, agriculture, armor, aviation, and mechanical and electro-electronic industries.
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 Kadant Inc.’s (“Kadant”) future financial and operating performance, demand for our products, and economic and industry outlook. These forward-looking statements represent Kadant’s expectations as of the date of this press release. Kadant Inc. undertakes 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 Kadant’s 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 year ended December 29, 2018, and subsequent filings with the Securities and Exchange Commission.