Kaydon Corporation Closes Acquisition of HAHN-Gasfedern Gmbh

Resource from: Kaydon Corporation Likes:3083

Apr 11,2011

(Ann Arbor, Michigan – April 8, 2011) Kaydon Corporation (NYSE: KDN) today announced that it has completed the acquisition of all of the outstanding shares of HAHN-Gasfedern GmbH and related real estate and intangible property (“Hahn”) from Ulrich Hahn e.K. pursuant to the definitive agreement announced on February 25, 2011. Hahn, located in Aichwald, Germany, manufactures and sells high quality gas springs, tension springs and dampers for diverse industrial markets. Hahn had sales of approximately $20 million in 2010, and will join ACE Controls, Inc. (“ACE”) within Kaydon’s Velocity Control Products segment. Kaydon expects the transaction to be accretive within the first twelve months of ownership. Kaydon Chairman and Chief Executive Officer James O’Leary stated, “We are delighted to welcome Hahn and its exceptional employees into Kaydon. The addition of Hahn to our Velocity Control Products segment, in collaboration with ACE, will benefit our world-class customers with enhanced product development and design.”

(Kaydon Corporation)

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