Kaman Corp. (NYSE:KAMN) today announced that its subsidiary, Kaman Aerospace Corporation (Kaman), has entered into a $120 million contract with the New Zealand Ministry of Defence for the purchase of ten SH-2G(I) Super Seasprite aircraft, spare parts, a full mission flight simulator, and related logistics support.
The contract is consistent with the previously announced government authorization and calls for the aircraft to be delivered over an approximately three year period with revenue recognition beginning in 2013.
The SH-2G(I) Super Seasprite is an advanced integrated maritime weapon system and a proven day/night/all-weather multi-mission helicopter. Originally designed to meet the exacting requirements of the U.S. Navy, the SH-2G Super Seasprite has the highest power-to-weight ratio of any maritime helicopter, assuring a safe return-to-ship capability even in single-engine flight conditions. Its robust design, outstanding stability, and excellent reliability have been proven through more than 1.5 million flight hours. The SH-2G is a fully integrated, multi-mission maritime weapon system designed to fulfill anti-submarine warfare (ASW), anti-surface warfare (ASuW), over the horizon targeting, surveillance, troop transport, vertical replenishment, search and rescue, and utility missions. It is the largest, most powerful small ship helicopter in use today and is recognized for its mission effectiveness, support, and unmatched performance. In addition to the Royal New Zealand Navy, the SH-2G Super Seasprite is operated by the Egyptian Air Force and the Polish Navy.
Source: Kaman Corp.
Date: May 8, 2013