WESTFORD, Mass.—Kadant Inc. is extending its reach as a supplier to the forest products sector with the purchase of the forest products business of NII FPG Company, a designer and manufacturer of equipment used by sawmills, veneer mills, and other companies in the forest products industry, for approximately US$173 million. The business will be integrated into Kadant’s Wood Processing Segment.
“We are pleased to complete this transaction and welcome our new colleagues from NII FPG to the Kadant family,” said Jonathan Painter, president and CEO of Kadant. “With NII FPG’s leading position in its markets and a strong parts and consumables business, we are confident the company will be a solid contributor toward achieving our strategic initiative of growing our aftermarket business.”
The forest products business of NII FPG has 275 employees worldwide.