Kaman Corporation (NYSE:KAMN) announced today that its Aerospace segment has been awarded a contract modification in the amount of $28.9 million for the procurement of Joint Programmable Fuzes (JPF). The award is a follow-on order raising the total under Option 11 of Kaman’s JPF contract with the U.S. Air Force (USAF) to approximately $90 million. Delivery of fuzes under Option 11 is anticipated to occur in 2015 and 2016.
"The JPF is the most functional and reliable bomb fuze in the U.S. military's arsenal. This award for additional fuzes signifies the critical capability and demand for the JPF that only Kaman can satisfy. We are pleased to increase our backlog on this program to $131 million solidifying the future of our largest single program through 2016," 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.
Source: Kaman Corporation
Date: Nov 21, 2014