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Friday, Oct 28, 2016

Kaman Announces $93 Million Joint Programmable Fuze Order

BLOOMFIELD, Conn.--(BUSINESS WIRE)--Kaman Corp. (NYSE:KAMN) announced today that its Aerospace segment has been awarded an order for the procurement of Joint Programmable Fuzes (JPF) with an expected total value of $93 million. The award is a direct commercial sale (DCS) order from a foreign government. Delivery of the fuzes is anticipated to occur beginning in late 2016 through 2017.

"This order drives our JPF backlog, already at a record level, to over $300 million. The JPF fuze provides excellent operational flexibility due to its ability to be programmed on wing and has demonstrated superior field reliability for more than a decade. Kaman is the only source of the product, and we have undertaken a significant expansion of our JPF capacity to meet the strong worldwide demand for the fuze and this order further supports that decision," 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 - view original press release

Published on ASDNews: Jan 5, 2016


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