Kaman acquires Timken Alcor Aerospace Technologies

Kaman Corporation reported that its Aerospace segment has acquired Timken Alcor Aerospace Technologies (TAAT) of Mesa, Arizona. TAAT, which will be renamed “EXTEX Engineered Products, Inc.,” designs and supplies aftermarket parts to support businesses conducting maintenance, repair, and overhauls (MROs) in aerospace markets primarily located in North America. Kaman Corporation, Executive Vice President and Chief Financial Officer, Robert Starr commented, “TAAT will be a great fit with our specialty bearing product lines. We expect the acquisition to be neutral to earnings per share in 2015, excluding one-time acquisition costs, and accretive in 2016.” TAAT had annual sales of approximately US$20m in 2014.