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News Breaks | | | | January 4, 2013 | | 16:02 EDT |  | KAMN | Kaman unit sells Canadian branches to Wajax Industrial Components
Kaman Industrial Technologies announced that it has sold its seven Canadian branches to Wajax Industrial Components, a leading Canadian national industrial distributor. "We are pleased that we were able to find a good home for our Canadian employees with the Wajax organization. We were sub-scale in Canada with limited opportunities to grow through acquisition. We have worked with Wajax in the past and we look forward to strengthening that relationship in the future," stated Steve Smidler, President of KIT. The operations divested by KIT had 2012 sales of approximately $20M USD. Terms of the transaction were not disclosed. Kaman Industrial Technologies is one of two operating Segments of Kaman Corporation (KAMN). | |
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| May 8, 2013 | | 08:56 EDT | | KAMN | Kaman receives order for ten aircraft from New Zealand government
Kaman's subsidiary, Kaman Aerospace, has entered into a $120M contract with the New Zealand Ministry of Defence for the purchase of ten SH-2G(I) Super Seasprite aircraft, spare parts, a full mission flight simulator, and related logistics support. The contract calls for the aircraft to be delivered over an approximately three year period with revenue recognition beginning in 2013. | |
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