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Kaman Announces Sale of Moosup Facility

2014-09-13 10:54:45| Industrial Machines - Topix.net

Kaman Corporation announced today that its subsidiary, Kaman Aerospace Corporation , 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.

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Category:Industrial Goods and Services

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