Kaman sells Mexican subsidiary
Kaman Corporation announced that it has sold its Mexico business unit Delamac de Mexico, S.A. de C.V. to Rodamientos y Accesorios S.A. de C.V of Mexico.
The terms of the transaction were not disclosed.
“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,” said Kaman executive vice president and distribution segment president Steven J. Smidler.
Kaman expects to record pre-tax charges in the fourth quarter 2014 related to the transaction of approximately $4.5 million to $5.5 million. Delamac was part of the distribution segment of Kaman and accounted for less than 2.5% of segment revenues. The business distributes bearings, power transmission products, lubrication systems, and related parts and accessories from 12 branch locations in Mexico.
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