Windsor, Connecticut (October 14, 2011) — Kaman Industrial Technologies Corporation (Kaman), a subsidiary of Kaman Corporation (NASDAQ-GS: KAMN), announced today that it has acquired certain assets of Plains Bearing Corp., a full line bearing and power transmission distributor with one location in Lubbock, Texas. Terms of the sale were not disclosed.
Founded in 1986, Plains Bearing serves a broad range of customers in West Texas, primarily in the food processing, petrochemical and agriculture industries. Plains Bearing will become a full service Kaman location with access to Kaman's full suite of mechanical, electrical, material handling, fluid power and motion control products and services.
"Plains Bearing is one of the leading independent bearing and power transmission distributors in its territory and an excellent addition to the Kaman sales and service network," said Steven J. Smidler, President of Kaman Industrial Technologies. "The acquisition is another example of the execution of our strategy to expand geographically to service both local and national accounts with facilities in the region."
"Our customers will benefit from a wider selection of products and world-class customer service," said James Grusendorf, President of Plains Bearing. "We are pleased to have joined forces with the Kaman team."
Kaman Industrial Technologies Corporation
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. More information is available at www.kaman.com.
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