Market: Machinery and Equipment
Posted April 4, 2016
Apr 05, 2016. /Lesprom Network/. Kadant Inc. has acquired all of the outstanding shares of RT Holding GmbH, the parent corporation of a group of companies known as the PAALGROUP (PAAL) for approximately Euro 51 million in cash, or approximately $58 million, as the company said in the press release received by Lesprom Network.
“Our acquisition of PAAL broadens our product portfolio and extends our presence deeper into recycling and waste management,” said Jonathan W. Painter, president and CEO of Kadant Inc. “With its strong aftermarket business and emphasis on product innovation, PAAL is an excellent fit with Kadant.”
PAAL was founded in 1854 in Osnabrück, Germany. Its primary products include horizontal balers and conveyors used to process various materials including paper, plastic, and metal.
Kadant Inc. is a global supplier of high-value, critical components and engineered systems used in process industries worldwide.