Kaman to acquire Industrial Supply Corporation
Kaman Corp. recently announced that its subsidiary, Kaman Industrial Technologies Corporation has signed a definitive agreement to acquire Richmond, VA-based Industrial Supply Corporation.
Kaman Corp. recently announced that its subsidiary, Kaman Industrial Technologies Corporation has signed a definitive agreement to acquire Richmond, VA-based Industrial Supply Corporation. ISC will become part of KIT, Kaman’s industrial distribution segment.
“This acquisition supports our corporate strategy of accelerating the growth of KIT by expanding our geographic footprint in major industrial markets throughout North America,” said Neal J. Keating, chairman, president and chief executive officer of Kaman Corporation. “It will provide Kaman access to new markets, expand our offering of products and services, and increase our capability to service major national and regional customers.”
Founded in 1933, ISC is a distributor of power transmission, fluid power, material handling and industrial MRO supply products to a variety of markets, including ship building, printing, machinery, transportation, electronics, pharmaceutical, rubber, chemicals and food processing. In addition to its Richmond facility, ISC has five branches located along the Eastern seaboard.
Annual Salary Survey
After almost a decade of uncertainty, the confidence of plant floor managers is soaring. Even with a number of challenges and while implementing new technologies, there is a renewed sense of optimism among plant managers about their business and their future.
The respondents to the 2014 Plant Engineering Salary Survey come from throughout the U.S. and serve a variety of industries, but they are uniform in their optimism about manufacturing. This year’s survey found 79% consider manufacturing a secure career. That’s up from 75% in 2013 and significantly higher than the 63% figure when Plant Engineering first started asking that question a decade ago.