Editor's note: This column was submitted by Stockpickr member Winston Kotzan. Of all the industrial parts manufacturers, few are better positioned to benefit from the best segments of global growth than Kaydon ( KDN). At first glance, the products manufactured by Kaydon may sound uninteresting: bearings, shock absorbers, engine rings, fluid filtration systems. But the company serves a booming, high-margin niche where the money to be made is far from boring. Michigan-based Kaydon builds specialty engineering parts for "intense" applications in the defense, wind energy, aerospace, petrochemical and medical industries, just to name a few. Its customers demand durability and customization, and are willing to pay a premium for quality. Kaydon has some of the highest profit margins in the industry: 2006 operating margin was 24.4% and gross margin was 41.4%, much higher than its peers in the industrial machinery sector. Competitor Timken ( TKR) has about 5% to 10% operating margin; Barnes ( B) is a little below 10%; and Illinois Tool Works ( ITW) is in the 15% range. Like other industrial companies driven by the strong global economy, Kaydon has a strong order book and it's working to expand capacity. Since the beginning of the year, the order backlog ballooned by a third, from $151 million to $201 million at the end of the second quarter. But the best days for Kaydon may be yet to come.