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Kaman sells Mexican distribution subsidiary

Kaman Corporation has sold its Mexican business Delamac de Mexico to Rodamientos y Accesorios. The financial terms of the transaction have not been disclosed.

Kaman has said it expects to record pre-tax charges of around $4.5 million to $5.5 million related to the transaction for the fourth quarter of 2014. It said Delamac was part of its distribution segment and accounted for less than 2.5% of segment revenues. Delamac distributes bearings, power transmission products, lubrication systems and related parts and accessories from 12 branches across Mexico.

“We did not have sufficient scale in Mexico to achieve our long-term targeted profitability goals and believe the operation will be better aligned with RYASA. We are grateful to the employees of Delamac for their commitment and service to Kaman and believe the new ownership will be beneficial for all parties.”

Steven J. Smidler, Kaman executive vice president and Distribution Segment president

Kaman is based in Bloomfield and serves the aerospace and distribution markets. It distributes industrial parts through more than 250 customer service centres and five distribution centres in the US and Puerto Rico.

For more information see Rubber News.

Home > News > DISTRIBUTORS NEWS

Kaman sells Mexican distribution subsidiary

Author : Lee Pearson   From : Bearingnet   Release times : 2017.09.17   Views : 1432

Kaman Corporation has sold its Mexican business Delamac de Mexico to Rodamientos y Accesorios. The financial terms of the transaction have not been disclosed.

Kaman has said it expects to record pre-tax charges of around $4.5 million to $5.5 million related to the transaction for the fourth quarter of 2014. It said Delamac was part of its distribution segment and accounted for less than 2.5% of segment revenues. Delamac distributes bearings, power transmission products, lubrication systems and related parts and accessories from 12 branches across Mexico.

“We did not have sufficient scale in Mexico to achieve our long-term targeted profitability goals and believe the operation will be better aligned with RYASA. We are grateful to the employees of Delamac for their commitment and service to Kaman and believe the new ownership will be beneficial for all parties.”

Steven J. Smidler, Kaman executive vice president and Distribution Segment president

Kaman is based in Bloomfield and serves the aerospace and distribution markets. It distributes industrial parts through more than 250 customer service centres and five distribution centres in the US and Puerto Rico.

For more information see Rubber News.

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