Posted February 25, 2010
Kaman acquires Fawick de Mexico
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 ($3.9 million U.S.).
"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," said T. Jack Cahill, president of KIT said. "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."
