Kaman Corporation (NASDAQ-GS:KAMN) announced today that its Aerospace segment has been awarded a contract modification in the amount of $24.2 million for the procurement of Joint Programmable Fuzes (JPF). The award is a follow-on order raising the total under Option 8 of Kaman’s JPF contract with the U.S. Air Force (USAF) to $76.8 million.
“This award raises our JPF program backlog to $149.2 million providing confidence in production levels through 2013. The highly reliable JPF is an important program to the U.S. and allied militaries around the world due to the operational flexibility that it provides,” commented Greg Steiner, President of Kaman Aerospace Group.
Kaman is the sole provider of the JPF to the USAF and twenty-three 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.
Source: Kaman Corp.
Date: Feb 2, 2012