WESTFORD, Mass., Aug. 23, 2021 (Globe NEWSWIRE) — Kadant Inc. (NYSE:KAI) now declared it has finished its acquisition of Balemaster for $54 million in dollars, subject to selected customary changes.
Balemaster is a main U.S. maker of horizontal balers and related products utilized primarily for recycling packaging squander at corrugated box crops and substantial retail and distribution centers. The company’s earnings for the trailing twelve months ended June 30, 2021 was approximately $22 million. Balemaster will come to be component of Kadant’s Product Dealing with reporting section.
“Our acquisition of Balemaster expands our existence in the secondary material processing sector