FARNBOROUGH, England – (BUSINESS WIRE) – Kaman Aerosystems (Kaman), a division of the aerospace segment of Kaman Corporation (NYSE:KAMN), announced today that its Air Vehicles and MRO (AVMRO) unit has been awarded a three-year contract with Naval Air Systems Command (NAVAIR) for the establishment of depot level maintenance capabilities for the Egyptian Air Force (EAF) SH-2G(E) helicopter program. The contract has a potential value of $3.6 million, which includes a $2.3 million year one baseline and two follow-on option years having a combined estimated value of $1.3 million.
“We are pleased to enter the next phase of the Egyptian Air Force’s SH-2G(E) program. This is the next step in what we expect will continue to be a meaningful long-term effort to support the Egyptians in operating their highly capable SH-2 fleet,” stated
Jim Larwood, President,
Kaman Aerosystems.
The depot capability will be established at the EAF’s Helwan Aviation Depot Workshop, near Cairo. The contract will provide the EAF with management, engineering, and logistics services to maintain aircraft readiness, aircraft system readiness, and the integrated logistics support elements associated with the sustainment of the SH-2G(E) program. Providing the EAF with depot level capabilities further enhances the EAF’s ability to directly support its fleet of SH-2G(E) aircraft.
The EAF currently operates ten SH-2G(E) Super Seasprite helicopters. The platform, which the EAF originally acquired in 1998, underwent a multi-year maintenance and modernization program that concluded in 2014. The EAF recently acquired seven Excess Defense Article (EDA) SH-2G aircraft from NAVAIR, which could ultimately increase their flying fleet to seventeen aircraft.
The SH-2G Super Seasprite is an advanced maritime weapon system and 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 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. The SH-2G Super Seasprite is currently operated by the Royal New Zealand Navy, the Egyptian Air Force and the Polish Navy.
Risks Associated with Forward-Looking Statements
This release includes “forward looking statements” relating to the estimated value of the contract and additional potential program scope discussed above. These statements are based on assumptions currently believed to be valid, but they involve risks and uncertainties that could cause actual results to differ from those expressed in the forward looking statements. Important uncertainties that could cause actual results to differ from those expressed in the forward looking statements are identified in periodic reports filed by Kaman Corporation with the SEC, including its Quarterly Reports on Form 10-Q, its Annual Reports on Form 10-K, and its 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 Corporation does not undertake any obligation to update the forward looking statements to reflect subsequent events or circumstances.
About Kaman
Kaman Corporation was founded in 1945 by aviation pioneer Charles H. Kaman. Headquartered in Bloomfield, Connecticut, the company conducts business in the aerospace and distribution markets. The company produces and/or markets widely used proprietary aircraft bearings and components; super precision, miniature ball bearings; complex metallic and composite aerostructures for commercial, military and general aviation fixed and rotary wing aircraft; aerostructure engineering design analysis and FAA certification services; safe and arm solutions for missile and bomb systems for the U.S. and allied militaries; subcontract helicopter work; production of the K-MAX® medium-to-heavy lift helicopter and support for the company’s SH-2G Super Seasprite maritime aircraft. More information is available at www.kaman.com.
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Source: Kaman Corporation
Kaman Corporation, Bloomfield, CT
Eric Remington, 860-243-6334
VP, Investor Relations
[email protected]
