Kaman and Kineco Agree to Form Joint Venture in India

The step furthers Kaman Aerospace Groups vision of providing customers with a complete aerosystem solution.

Kaman Aerospace Group, Inc., Bloomfield, CT, a subsidiary of Kaman Corp. (NYSE: KAMN), and Kineco Private Ltd., Goa, India, have agreed to form a manufacturing joint venture in India. The new company will be named Kineco Kaman Composites – India Pvt. Ltd.

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The venture is based in Goa and will manufacture advanced composite structures for aerospace, imaging/medical and other industries.

Gregory Steiner, president of Kaman Aerospace Group, said, “This strategic step is in keeping with our vision to provide our customers with a complete aerosystem solution. Our customers will benefit with a Kaman “One Stop” full complement of seamless services including design, tooling, testing, certification, low rate initial production, through steady state high velocity production. In addition, mature processes with high labor content will serve as key potential opportunities to provide our customers with future step down pricing.”

The joint venture will conduct its operations out of the existing Kineco composites manufacturing facility in Goa, and is expected to initially employ approximately 50 composite manufacturing employees.

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