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Kaman Announces Sale of Moosup FacilityBLOOMFIELD, Conn. --(Business Wire)-- (NYSE:KAMN) Kaman Corporation announced today that its subsidiary, Kaman Aerospace Corporation (Kaman), has sold its former manufacturing facility in Moosup, Connecticut, which has been idle since 2004, to TD Development, LLC. In connection with the sale, Kaman will contribute $4 million in cash over a four year period to fund environmental remediation work that is expected to be done on the property, and expects to take a related pre-tax charge of approximately $2.2 million in the third quarter. Further terms of the transaction were not disclosed. This release includes "forward looking statements" relating to the business transaction described 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 thoseexpressed in the forward looking statements are identified in our reports filed with the SEC (News - Alert), 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; 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 locations 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.
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