(By Balaseshan) Kaman Corp. (NYSE: KAMN), which conducts business in the aerospace and industrial distribution markets, said its unit will become a distributor for Schneider Electric's line of industrial automation and control products.
Under the national distributor agreement, Kaman Industrial Technologies Corp. (KIT) will become a distributor for Schneider Electric's line of industrial automation and control products as well as select power control and protection products commonly used in motor control applications, effective immediately.
As part of the agreement, Schneider Electric will become KIT's primary line of AC drives, sensors, low voltage controls and automation. The deal also authorizes the sale of Schneider Electric Programmable Logic Controllers (PLCs), Human Machine Interfaces (HMIs) and signaling equipment.
[Related -Kaman (KAMN) To Buy Assets Of Zeller Corp.]
KIT will begin stocking these products at its more than 200 locations throughout the U.S. in the first quarter of 2013.
Schneider Electric's products align with the existing focus of Power Transmission/Motion Control distributors, a group accustomed to technical solution sales of applied products that require a high degree of expertise.
To further ensure the best solutions are delivered to mutual customers, Schneider Electric will also provide drives specialists to support a mutually agreed upon number of KIT branches. Each specialist is certified and will offer support and technical knowledge.
[Related -9 Dividend Stocks Raising Their Yield On Cost]
KIT was previously authorized to offer Schneider Electric products through only five locations, acquired earlier this year via the acquisition of the operating assets of Zeller Corp.
KIT is a distributor and service provider to North American industry from more than 240 locations and 5 distribution centers in three business platforms; Electrical and Automation Control, MRO-Bearings and Power Transmission, and Fluid Power.
KAMN is trading down 0.50% at $35.50 on Tuesday. The stock has been trading between $26.10 and $37.79 for the past 52 weeks.