Bloomfield aerospace manufacturer Kaman Corp. on Monday said it sold its closed down Plainfield factory to a Baltimore developer.
The manufacturing facility in the Moosup section of Plainfield has been idle since 2004. Kaman will contribute $4 million in cash over a four-year period to fund environmental remediation work at the property.
The Bloomfield company expects to take a $2.2 million pre-tax charge in the third quarter as a result of the sale.
Other financial terms were not disclosed.
The purchaser, TD Development of Baltimore, did not disclose its plans for the facility. Earlier this year, TD bought another closed factory near Albany, N.Y. that used to make Beech Nut baby food. TD plans on turning that facility into rest stop amenities for travelers on the New York Thruway.
