Kaman breaks up aerospace business

Bloomfield-based manufacturer Kaman Corp. said it will break up its aerospace division into four separate segments, and restate its financials for full-year 2006 and the first quarter of 2007. The restatement should not alter Kaman’s balance sheet or financial condition, the company said. An SEC staff inquiry that questioned the aerospace segment’s reporting structure prompted the changes, Kaman said. It has been broken into four segments: aerostructures, fuzing, helicopters and specialty bearings. Kaman’s two other segments, industrial distribution and musical instruments, will remain unchanged.