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Tuesday, Oct 24, 2017

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.

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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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