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Kaman Corp. (NYSE: KAMN), Bloomfield, CT, 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 (RYASA). Terms were not disclosed.
Delamac was part of the distribution segment of Kaman and accounted for less than 2.5 percent of segment revenues. The business distributes bearings, power transmission products, lubrication systems, and related parts and accessories from 12 branch locations in 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," said Steven J. Smidler, Kaman executive vice president and distribution segment president. "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,”
Kaman is No. 18 on MDM’s list of the top 40 industrial distributors.