Kaman Announces $8.5 Million Joint Programmable Fuze Order
Resource from: Kaman Corporation Likes:136
Jul 15,2014
BLOOMFIELD, Conn.--(BUSINESS WIRE)--
(KAMN) Kaman Corporation announced today that its Aerospace segment has been awarded a contract modification in the amount of $8.5 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 $50.4 million. Delivery of fuzes under Option 11 is anticipated to occur in 2015 and 2016.
"This order further solidifies the outlook for our largest single program with a backlog of $117 million that extends into 2016. The order demonstrates the USAF's continued fuzing requirements and commitment to the program," stated Kaman Aerospace Group President, Greg Steiner.
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.
Risks Associated with Forward-Looking Statements
This release includes "forward looking statements" relating to the estimated value of the JPF contract discussed above. These statements are based on assumptions currently believed to be valid, but they involve risks and uncertainties that could cause our actual results to differ from those expressed in the forward looking statements. Important uncertainties that could cause our actual results to differ from those expressed in the forward looking statements are identified in our reports filed with the SEC, including our Quarterly Reports on Form 10-Q, our Annual Reports on Form 10-K, and our Current Reports on Form 8-K. The forward looking statements included in this press release are made only as of the date of this release, and Kaman does not undertake any obligation to update the forward looking statements to reflect subsequent events or circumstances.
(Kaman Corporation)
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
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