Kaman Corporation on February 25 announced that its subsidiary, Kaman Industrial Technologies Corporation (KIT), has agreed to acquire the assets of Fawick de Mexico, S.A. de C. V. (Fawick) of Mexico City, Mexico. Fawick will become part of Delamac de Mexico, Kaman's Industrial Distribution Mexican subsidiary. Terms were not disclosed.
Fawick, founded in 1965, is a distributor of fluid power and lubrication products, equipment and systems to a wide variety of industries throughout Mexico. In addition, Fawick offers value added services in the areas of pump maintenance, hydraulic and lubrication systems. The company has annual sales of approximately $50 million pesos (US$3.9 million).
T. Jack Cahill, president of KIT, stated, "Fawick de Mexico provides a perfect product expansion to the bearings and power transmission platform we already have in Mexico. Their technical skills, high-quality product authorizations and broad sales coverage are a great fit with the strong customer relationships and five branch locations we have already established in Mexico. We are very optimistic on the long-term prospects of the Mexican market and the addition of this business is evidence of our continued interest in increasing our presence."
KIT is the third-largest distributor of power transmission and motion control products in North America. The company operates nearly 200 branches, distribution centers and customer service centers across the U. S., Canada, Mexico and Puerto Rico. It offers approximately three million items as well as value-added services to a base of about 50,000 customers representing a highly diversified cross section of North American industry. Kaman Corporation, founded in 1945 by aviation pioneer Charles H. Kaman, and headquartered in Bloomfield, Conn., conducts business in the aerospace and industrial distribution markets.