Bloomfield Kaman Corp.’s industrial-products distribution arm has again found common ground with a Canadian rival, this time to leverage their combined marketing and financial muscle to globally compete for customers.
Kaman Industrial Technologies Corp. and Wajax Industrial Components have named their strategic alliance Sourcepoint Industrial.
Sourcepoint aims to compete for business-to-business and supply agreements with customers on both sides of the border who covet the pair’s power-transmission and motion-control products, said KIT President Steve Smidler.
“We’re expecting more and more customers to make purchasing decisions on a global or international basis,” parent Wajax Corp. CEO Mark Foote said. “Whereas Wajax is very good at satisfying a customer’s Canadian needs, and Kaman is very good at satisfying a customer’s U.S. needs, on our own, we each have a limited ability to cover a customer’s needs across both countries.”
In January, KIT sold its seven Canadian branches that had 2012 sales of $20 million to Wajax for an unspecified sum. At the time, KIT cited its limited ability to grow in Canada as the reason for the sale.
