FROM THE NEWSROOM: Kaman Aerospace Corporation (Kaman), a subsidiary of Kaman Corporation, has sold its former manufacturing facility in Moosup, which has been idle since 2004, to the Baltimore-based TD Development, LLC, according to a news release from the company. 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.
Posted on: Mon, 15 Sep 2014 21:51:40 +0000
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