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In The News:

Kaman Agrees to Buy Zeller Corp.

Kaman Industrial Technologies, the distribution business of Kaman Corp. (NYSE:KAMN) and No. 17 on MDM's list of the top 40 industrial distributors, Bloomfield, CT, has agreed to acquire Zeller Corp., a distributor of electrical and automation components, including motion control, programmable logic controller based automation, machine vision, electrical controls and power distribution products.

A Schneider Electric distribution partner, Zeller also represents other manufacturers including Kollmorgen, Phoenix Contact, Rittal and Sick.

Zeller employs 240 people, including 60 engineers, and has operations in Rochester, Syracuse and Buffalo, NY; Foxboro, MA; and Winston-Salem, NC. Zeller expects 2012 sales of $80 million for the full year.

"The acquisition of Zeller Corporation is a very exciting addition for Kaman and our KIT distribution business – it extends and expands our automation and motion control product portfolio to include electrical controls and power distribution. Further, it demonstrates our commitment to growing our distribution network, enhancing our value-add solutions capabilities, and complementing our strong mechanical and fluid power product platforms,” said Neal J. Keating, CEO of Kaman Corp.

Gary Haseley, president of Zeller, said: “We are very enthusiastic about the opportunity to become part of the Kaman distribution and solutions team. We believe Zeller’s deep engineering expertise coupled with Kaman’s broad national reach will combine to create an outstanding solution for our customers, while driving growth opportunities for our suppliers and employees. With more than 50 years of experience providing superior electrical products and engineered solutions to our customers, we will now also have the ability to satisfy their mechanical power transmission requirements.”

Haseley will join Kaman’s executive management team as Zeller’s vice president and general manager, reporting to Kaman Industrial Technologies President Steve Smidler.

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