BLOOMFIELD, Conn. -- (Business Wire)
(NYSE:KAMN)Kaman Corporation announced today that its
Aerospace segment has been awarded a contract modification in the amount
of $58 million for the procurement of Joint Programmable Fuzes (JPF).
The award is the first order under Option 12 of Kaman’s JPF contract
with the U.S. Air Force (USAF). Delivery of the fuzes is anticipated
to occur in 2016 and 2017.
"We believe the JPF is the most reliable bomb fuze in the U.S.
military's arsenal. No other bomb fuze has the functionality or provides
the operational flexibility of the JPF and Kaman is the only source of
the product. The award increases our backlog to in excess of $150
million and extends visibility on this program into 2017," stated Greg
Steiner, President, Kaman Aerospace Group.
Kaman has been the sole provider of the JPF to the USAF since 2002. In
addition to the USAF, Kaman provides the JPF to twenty-six other
nations. The JPF allows the settings of a weapon to be programmed on
wing in flight and is the current bomb fuze of choice of the USAF. The
JPF is used with a number of weapons including general purpose bombs,
and guided bombs that use JDAM or Paveway kits, on U.S. aircraft such as
F-15, F-16, F-22, A-10, B-1, B-2, B-52 and the MQ-9 UAV as well as on
international aircraft such as Mirage 3 and Gripen. Kaman produces the
JPF at facilities in Orlando, Florida and Middletown, Connecticut.
Risks Associated with Forward-Looking Statements
This release includes "forward looking statements" relating to the
estimated value of the JPF contract discussed above. These statements
are based on assumptions currently believed to be valid, but they
involve risks and uncertainties that could cause our actual results to
differ from those expressed in the forward looking statements. Important
uncertainties that could cause our actual results to differ from those
expressed in the forward looking statements are identified in our
reports filed with the SEC, including our Quarterly Reports on Form
10-Q, our Annual Reports on Form 10-K, and our Current Reports on Form
8-K. The forward looking statements included in this press release are
made only as of the date of this release, and Kaman does not undertake
any obligation to update the forward looking statements to reflect
subsequent events or circumstances.
About Kaman Corporation
Kaman Corporation, founded in 1945 by aviation pioneer Charles H.
Kaman, and headquartered in Bloomfield, Connecticut conducts business in
the aerospace and industrial distribution markets.The company
produces and/or markets widely used proprietary aircraft bearings and
components; complex metallic and composite aerostructures for
commercial, military and general aviation fixed and rotary wing
aircraft; aerostructure engineering design analysis and FAA
certification services; safe and arm solutions for missile and bomb
systems for the U.S. and allied militaries; subcontract helicopter work;
and support for the company's SH-2G Super Seasprite maritime helicopters
and K-MAX medium-to-heavy lift helicopters.The company is a
leading distributor of industrial parts, and operates more than 200
customer service centers and five distribution centers across the U.S.
and Puerto Rico.Kaman offers more than four million items
including bearings, mechanical power transmission, electrical, material
handling, motion control, fluid power, automation and MRO supplies to
customers in virtually every industry.Additionally, Kaman
provides engineering, design and support for automation, electrical,
linear, hydraulic and pneumatic systems as well as belting and rubber
fabrication, customized mechanical services, hose assemblies, repair,
fluid analysis and motor management.More information is
available at www.kaman.com.
Contacts:
Kaman Corporation
Eric Remington, VP, Investor Relations,
(860) 243-6334
Eric.Remington@kaman.com
Source: Kaman Corporation
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