Form 8-K KAMAN Corp For: Oct 21
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E-mailUNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): October 21, 2015
Kaman Corporation
(Exact Name of Registrant as Specified in Its Charter)
Connecticut
(State or Other Jurisdiction of Incorporation)
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001-35419
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06-0613548
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(Commission File Number)
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(IRS Employer Identification No.)
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1332 Blue Hills Avenue, Bloomfield, Connecticut
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06002
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(Address of Principal Executive Offices)
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(Zip Code)
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(860) 243-7100
(Registrant's Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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Item 8.01 Other Events.
On October 21, 2015, the Company announced that its Aerospace segment has completed the previously announced acquisition of Timken Alcor Aerospace Technologies, Inc. of Mesa, Arizona.
A copy of the press release announcing the completion of the transaction is furnished as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
The following exhibits are filed herewith:
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99.1
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Press Release, dated October 21, 2015, announcing the completion of the acquisition of Timken Alcor Aerospace Technologies, Inc.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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KAMAN CORPORATION
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By:
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/s/ Robert D. Starr | |
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Robert D. Starr
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Executive Vice President &
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Chief Financial Officer
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Date: October 21, 2015
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KAMAN CORPORATION AND SUBSIDIARIES
Index to Exhibits
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Exhibit
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Description
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99.1
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Press Release, dated October 21, 2015, announcing the completion of the acquisition of Timken Alcor Aerospace Technologies, Inc.
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4
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NEWS RELEASE
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Kaman Corporation
Bloomfield, CT USA
P (860) 243-7100
www.kaman.com
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KAMAN ACQUIRES TIMKEN ALCOR AEROSPACE TECHNOLOGIES
BLOOMFIELD, Connecticut (October 21, 2015) – (NYSE: KAMN) Kaman Corporation announced today that its Aerospace segment has acquired Timken Alcor Aerospace Technologies, Inc. (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.
"TAAT nicely complements the aftermarket business of our Specialty Bearings & Engineered Products division. Our test and development capabilities will allow for expanded customer application solutions. In addition, strong sales channels with a global reach, combined with TAAT's engineering expertise, and strong customer relationships provide significant synergy opportunities," stated Robert Paterson, President, Kaman Specialty Bearings.
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 and accretive in 2016."
TAAT had annual sales of approximately $20 million in 2014.
Risks Associated with Forward-Looking Statements
This release includes "forward looking statements" relating to the acquisition discussed above. These statements are based on assumptions currently believed to be valid, but they involve risks and uncertainties that could cause our actual results to differ from those expressed in the forward looking statements. Important uncertainties that could cause our actual results to differ from those expressed in the forward looking statements are identified in our reports filed with the SEC, including our Quarterly Reports on Form 10-Q, our Annual Reports on Form 10-K, and our Current Reports on Form 8-K. The forward looking statements included in this press release are made only as of the date of this release, and Kaman does not undertake any obligation to update the forward looking statements to reflect subsequent events or circumstances.
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; K-MAX® medium to heavy lift helicopters; and support for the company's SH-2G Super Seasprite maritime helicopters and K-MAX® aircraft. The company is a leading distributor of industrial parts, and operates more than 200 customer service centers and five distribution centers across the U.S. and Puerto Rico. 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 The Timken Company
The Timken Company (NYSE: TKR; www.timken.com) engineers, manufactures and markets bearings, transmissions, gearboxes, chain and related products, and offers a spectrum of powertrain rebuild and repair services. The leading authority on tapered roller bearings, Timken today applies its deep knowledge of metallurgy, tribology and mechanical power transmission across a variety of bearings and related systems to improve reliability and efficiency of machinery and equipment all around the world. The company's growing product and services portfolio features many strong industrial brands including Timken®, Fafnir®, Philadelphia Gear®, Carlisle®, Drives® and InterlubeTM. With 14,000 employees operating from 28 countries, Timken posted $3.1 billion in sales in 2014.
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Contact:
Eric Remington
VP, Investor Relations
(860) 243-6334
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