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BRIEF-Kaman announces restructuring plan
September 7, 2017 / 8:35 PM / 14 days ago

BRIEF-Kaman announces restructuring plan

Sept 7 (Reuters) - Kaman Corp

* Kaman announces restructuring plan

* Kaman Corp - ‍in U.S., company expects to close its Connecticut composite structures division​

* Kaman Corp - ‍restructuring primarily affects aerospace segment’s Connecticut composite structures division in Bloomfield Connecticut​

* Kaman Corp - ‍transfer its programs to company’s composites facility in Wichita, Kansas and to its air vehicles and MRO division in Bloomfield​

* Kaman Corp - ‍restructuring primarily affects aerospace segment’s fabricated products operations in Hyde, United Kingdom​

* Kaman Corp - expects to transfer substantially all of fabricated products production currently taking place at co’s Hyde facility to its Darwen facility​

* Kaman -expects actions will result in about $8.0 million to $10.0 million in pre-tax restructuring charges, beginning in Q3 of 2017

* Kaman Corp - ‍approximately $5.0 million of restructuring charges​ is expected to be recorded in 2017

* Kaman - ‍on annualized basis beginning in 2019, co anticipates the restructuring actions will result in total cost savings of approximately $4.0 million​ Source text for Eikon: Further company coverage:

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