Alliance strengthens services for customers that have assets across North America

MONTREAL, QUEBEC (February 21, 2013) – Wajax Industrial Components and Kaman Industrial Technologies (“Kaman”) – two of North America’s leading industrial distributors – announced today that they have formed a strategic alliance, strengthening the services offered to customers having business assets in the U.S., Canada, Mexico and Puerto Rico. While each of Wajax Industrial Components and Kaman will remain as separate and independent entities, they will join forces to compete for business-to-business and supply agreements with customers in multiple jurisdictions, providing an alternative to country-based supply agreements. The alliance will be known as “Sourcepoint Industrial”.

“North American and global consolidation of an important segment of our customer base and the resulting impact on their purchasing decisions led us to seek new ways to better serve these customers” said Adrian Trotman, President, Wajax Industrial Components, referring to the business trends which led to the alliance. “While both Wajax Industrial Components and Kaman have a proven track record of satisfying customer needs in Canada and the U.S. respectively, neither one could individually cover a customer’s needs spanning both countries. This alliance gives customers a viable option to satisfy their North American-wide supply requirements that has unique strengths.”

“Historically, North American customers have had a limited choice for suppliers of their power-transmission and motion-control products,” said Steve Smidler, President, Kaman Industrial Technologies. “This alliance gives customers an alternative, and an opportunity to benefit from both companies’ value propositions. It meets the objectives that customers are trying to achieve in terms of cost control, consistency of service and added value.”

Kaman Industrial Technologies operates more than 200 customer service centers and five distribution centers across the U.S., Mexico and Puerto Rico. Wajax Industrial Components has 65 branches and 13 certified service and repair centers in Canada.

With the alliance, North American customers can expect to gain a large portfolio of products, services and technical expertise, along with better cost efficiency, higher productivity and a one-stop shopping experience for their manufacturing operations. Mr. Smidler continued, “More than ever, today’s customers are looking for solutions to their production problems. They’re looking for solutions for their assets. They’re looking for solutions to manage their costs – particularly given today’s global economic environment. This alliance is perfectly timed to deliver what North America’s manufacturing and resource sectors want to achieve.”

Added Mr. Trotman, “Wajax Industrial Components has skills in hydraulics that can help Kaman’s U.S. customers. Kaman has strengths in power transmission and motion control engineering that can help Wajax Industrial Components’ Canadian customers. The fact that each of Wajax Industrial Components and Kaman operate independently on either side of the border allows us to work together effectively.”

Wajax Industrial Components

Wajax Industrial Components is a wholly owned division of Wajax Corporation, a leading industrial distributor. Wajax is a Canadian business which has been in operation for 154 years. Its common shares are listed and traded on the Toronto Stock Exchange under the symbol “WJX”.

Wajax Industrial Components currently operates a total of 65 branches nation-wide, employing more than 750 people, and represents such market-leading brands as SKF, Schaeffler Canada, Timken, Renold, Emerson Power Transmission, Martin Sprocket, Rexnord, Eaton, Parker Hannifin, Moyno, Cuno and Honeywell.  Globally sourced commodity products are available under the National and Hy-Spec private label brand names.

Wajax Industrial Components also operates 13 certified service and repair centers strategically located across Canada.  Specialized engineers and technicians deliver value-added services such as design and fabrication, equipment selection, failure analysis, on-site support and reverse engineering. Clients come from sectors as diverse as mining and aggregates, oil and gas, primary metals, forestry, utilities, and construction, to name a few.

Kaman Industrial Technologies Corporation

Kaman, including Minarik, is a leading distributor of industrial parts, and operates more than 200 customer service centers and five distribution centers across North America.  Kaman offers more than four million items including bearings, mechanical power transmission, electrical and automation, material handling, motion control, fluid power and MRO supplies to customers in virtually every industry. 

Additionally, Kaman provides engineering, design and support for automation, electrical, linear, hydraulic and pneumatic systems as well as belting and rubber fabrication, customized mechanical services, hose assemblies, repair, fluid analysis and motor management.  Kaman Industrial Technologies Corporation is a subsidiary of Kaman Corporation.

Kaman Corporation (NASDAQ-GS: KAMN), founded in 1945 by aviation pioneer Charles H. Kaman, and headquartered in Bloomfield, Connecticut conducts business in the aerospace and industrial distribution markets.