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4-Traders Homepage  >  Equities  >  Nasdaq  >  Kaman Corporation    KAMN

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KAMAN N.CUM PTG : Kaman Specialty Bearings and Armick, Inc. Form Exclusive Teaming Agreement

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07/14/2011 | 03:50pm CET

Kaman Specialty Bearings (Kaman) a division of Kaman Corporation (NASDAQ-GS:KAMN) and Armick announced today that they have signed an exclusive teaming agreement to develop and market Armick's Radial Axial Bearing Inspection Tool (RABIT). RABIT is an exceptional, patented inspection gage to measure spherical bearing wear during quality inspections and overhauls. The RABIT tool is light and nimble, fitting into the hand of the inspector and can be deployed "on wing" without complete part removal, or also on the bench during repair and overall. Other uses include initial quality inspection and parts validation.

"We're excited about this collaboration and believe this partnership will bring to market an innovative tool for bearing inspection in many applications including control rods, dampening bearings, and pitch links and in a variety of aerospace markets including commercial and military helicopters, fixed wing aircraft, and MRO's," commented Rob Paterson, Kaman President.

Kaman develops and markets a variety of self-lubricating and airframe bearings and related products for the aerospace, marine, power generation, and industrial markets. Kaman's bearings are on virtually every aircraft manufactured around the world. Its engineered products lead the industry in performance and life with benefits including high load capacity, low friction, weight reduction and zero maintenance.

"After developing the RABIT we knew we had to look to reach a broader customer base with this new inspection tool. Kaman Specialty Bearings has a reputation for high quality bearings and we wanted to partner with a market leader. We are very excited about the opportunity to work with Kaman Specialty Bearings," commented Nick Jacques, Armick VP of Sales.

Under the agreement, Kamatics will develop applications and market RABIT gages throughout the military and commercial aerospace industry.

About Kaman Specialty Bearings (KSB)

Kamatics Corporation of Bloomfield, Connecticut and RWG Frankenjura-Industrie Flugwerklager GMBH, of Dachsbach, Germany comprise the KSB product group. KSB manufactures mechanical products for aviation, marine, hydropower, and other industrial applications. The company offers self-lubricated bearings and traditional rolling element bearings for hydropower installations, ships, submarines, aircraft flight controls, turbine engines, and landing gear as well as drive couplings for helicopters.

About Kaman Corporation

Kaman Corporation, founded in 1945 by aviation pioneer Charles H. Kaman, and headquartered in Bloomfield, Connecticut conducts business in the aerospace and industrial distribution markets. The company produces and/or markets widely used proprietary aircraft bearings and components; complex metallic and composite aerostructures for commercial, military and general aviation fixed and rotary wing aircraft; aerostructure engineering design analysis and FAA certification services; safe and arm solutions for missile and bomb systems for the U.S. and allied militaries; subcontract helicopter work; and support for the company's SH-2G Super Seasprite maritime helicopters and K-MAX medium-to-heavy lift helicopters. The company is a leading distributor of industrial parts, and operates more than 200 customer service centers and five distribution centers across North America. Kaman offers more than four million items including bearings, mechanical power transmission, electrical, material handling, motion control, fluid power, automation and MRO supplies to customers in virtually every industry. Additionally, Kaman provides engineering, design and support for automation, electrical, linear, hydraulic and pneumatic systems as well as belting and rubber fabrication, customized mechanical services, hose assemblies, repair, fluid analysis and motor management. More information is available at www.kaman.com.

About Armick

Armick, of Kentwood, Michigan, was founded in 2003 by Nick Jacques and Blair Heethuis after they developed a line of ground support equipment used to clean aviation assets. From this beginning Armick has continued in its entrepreneurial spirit by designing aviation tools that increase efficiency or accuracy in the field of aviation maintenance similar to the RABIT. More information is available at www.armick.com.

For more information on RABIT gages contact:
Kaman Specialty Bearings
Kristofer Kolstad, 860-243-7565
VP Marketing

© Business Wire 2011
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Financials ($)
Sales 2016 1 818 M
EBIT 2016 115 M
Net income 2016 63,1 M
Debt 2016 312 M
Yield 2016 1,38%
P/E ratio 2016 23,18
P/E ratio 2017 18,28
EV / Sales 2016 0,95x
EV / Sales 2017 0,77x
Capitalization 1 416 M
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Mean consensus OUTPERFORM
Number of Analysts 6
Average target price 53,5 $
Spread / Average Target 2,4%
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Neal J. Keating Chairman, President & Chief Executive Officer
Robert D. Starr Chief Financial Officer & Executive Vice President
Paul M. Villani Chief Information Officer & Senior Vice President
Richard J. Swift Independent Class II Director
Brian E. Barents Independent Class III Director
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