“I’m pleased to extend our presence into the forest products industry with the acquisition of Carmanah,” said Jonathan W. Painter, president and CEO of Kadant Inc. “Carmanah is the world leader in stranding equipment and we expect that the company will make a strong contribution to our business in 2014 and beyond. Industry analysts expect the annual growth rate of OSB production to be just under 10% per year over the next five years in North America. With more than 70% of Carmanah’s business coming from parts and consumables, this acquisition will also advance our strategic plan to increase our aftermarket revenues.”
Carmanah is a global leader in the design and manufacture of stranders and related equipment used in the production of oriented strand board (OSB), an engineered wood panel product used primarily in home construction. Carmanah also supplies debarking and wood chipping equipment used in both the forest products and the pulp and paper industries.
Kadant Inc. is a leading supplier to the global pulp and paper industry.