Bloomfield, Connecticut (April 18, 2011) - Kaman Industrial Technologies Corporation (Kaman) announced today that it's subsidiary, Minarik Corporation (Minarik), a leading national value added motion control distributor, has acquired the assets of Automation Technology, Inc. with locations in Salt Lake City, Utah and Boise, Idaho. Automation Technology, considered to be a strong motion control distributor in the Intermountain and Pacific Northwest trading areas, increases Minarik's leading position in those markets adding to its locations in Portland, Seattle and Denver.
"We are very pleased to be able to continue Minarik's market expansion with the acquisition of Automation Technology. Their knowledge of the market and technical expertise, coupled with the resources of Minarik and Kaman will offer the Intermountain and Northwest markets superior products with unequalled application support and service," stated Andy Reid, Kaman's Area VP, Minarik.
Steve Smidler, President of Kaman said, "The combination of our mutual talent and resources creates an organization unlike any other in the geography. The synergistic opportunity of combining Automation Technology's technological strength in OEM markets with Kaman's leadership position in power transmission and MRO markets, allows us to offer all customers in the area a value proposition unlike any other supplier in the market place. Automation Technology fits nicely with our acquisition last year of Minarik and is part of our overall expansion strategy to further increase our already national automation and control footprint."
The companies will retain their separate identities and trade names to take advantage of the excellent reputations which they have built. The acquisition is Minarik's seventh acquisition in just over ten years and shows the company's continued commitment to expanding its capabilities and coverage to support its customers and its suppliers.
Kaman Industrial Technologies Corporation
Kaman, including Minarik, is a leading distributor of industrial parts, and operates more than 200 customer service centers and five distribution centers across North America. Kaman offers more than four million items including bearings, mechanical power transmission, electrical, material handling, motion control, fluid power, automation and MRO supplies to customers in virtually every industry. Additionally, Kaman provides engineering, design and support for automation, electrical, linear, hydraulic and pneumatic systems as well as belting and rubber fabrication, customized mechanical services, hose assemblies, repair, fluid analysis and motor management. Kaman Industrial Technologies Corporation is a subsidiary of Kaman Corporation. Kaman Corporation (NASDAQ-GS: KAMN), founded in 1945 by aviation pioneer Charles H. Kaman, and headquartered in Bloomfield, Connecticut conducts business in the aerospace and industrial distribution markets.
For more information, visit http://www.minarik.com/