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Stock impact report

Kaman Announces Intent to Expand its GRW Precision Bearings Operations

Kaman Corporation (KAMN) 
Last kaman corporation earnings: 2/24 04:30 pm Check Earnings Report
US:NYSE Investor Relations: kaman.com/investors
Company Research Source: Business Wire
BLOOMFIELD, Conn.--(BUSINESS WIRE)--Kaman Corp. (NYSE:KAMN) announced today that it has secured land in Würzburg, Germany on which it will build a new facility to support the expansion of Gebr. Reinfurt GmbH & Co. KG (“GRW”), one of the Company’s precision bearings operations focused on miniature bearings for the Medical, Aerospace, and Industrial end markets. The Company currently estimates it will spend $10.0 million on the build out and expects to break ground in 2020 with the new facility opening in 2022.“We have seen strong growth in our business since the acquisition by Kaman and we are pleased that this expansion will allow us to continue to meet the increasing demand we see from our customers. Additionally, we are investing in our local community, with the new state of the art facility located only a few miles from our current operations allowing us to retain the skilled workforce we have developed over the years", said Michael Wilhelm, Executive Managing Director, Gebr. R Show less Read more
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