FIREFIGHTING MARKET STRONG FOR K-MAX HELICOPTERS; KAMAN EXPLORES LATIN AMERICAN OPPORTUNITIES DURING FIDAE
BLOOMFIELD, Conn. – (NYSE:KAMN) Kaman Corporation is aggressively pursuing sales of the K-MAX® helicopter to firefighting operators worldwide, and will be assessing the firefighting market in Latin America during the International Air and Space Fair (FIDAE) (Stand C44) in Santiago Chile, March 29 through April 1, 2016.
“The K-MAX is extremely well regarded for aerial firefighting, and market indicators are very positive in that segment,” said Terry Fogarty, Director of Business Development for K-MAX Helicopter Programs. “We are especially pleased that the U.S. Forest Service recently awarded 10 multi-year firefighting contracts to K-MAX operators totaling U.S.$74 million in the aggregate.”
K-MAX production is in full swing, with work being done at Kaman’s Bloomfield, Conn. and Jacksonville, Fla. facilities. The first delivery is slated for early 2017 to Lectern Aviation Supply of China. Lectern aircraft will fight fires for the Chinese Department of Forestry. Other customers for new production aircraft include current K‑MAX® operators Rotex Helicopter AG, of Switzerland, and Helicopter Express, of Chamblee, Georgia.
With a fuel burn of just 85 gallons per hour, the K-MAX® helicopter is a cost-effective workhorse that can uniquely lift up to 6,000 pounds (2,722 kg), even in high/hot conditions.
Risks Associated with Forward-Looking Statements
This release includes “forward looking statements” relating to the K-MAX® program 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 Aerosystems is a division of the Aerospace segment of Kaman Corporation (NYSE:KAMN), which was founded in 1945 by aviation pioneer Charles H. Kaman. Headquartered in Bloomfield, Connecticut, Kaman Corporation conducts business in the aerospace and distribution markets. The company produces and markets 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; safe and arming solutions for missile and bomb systems for the U.S. and allied militaries; subcontract helicopter work; restoration, modification and support of our SH-2G Super Seasprite maritime helicopters; manufacture and support of our K-MAX ® manned and unmanned medium-to-heavy lift helicopters; and engineering design, analysis and certification services. The company is a leading distributor of industrial parts, and operates approximately 240 customer service centers and five distribution centers across the U.S. and Puerto Rico. Kaman offers more than four million items including bearings, mechanical power transmission, electrical, material handling, motion control, fluid power, automation and MRO supplies to customers in virtually every industry. Additionally, Kaman provides engineering, design and support for automation, electrical, linear, hydraulic and pneumatic systems as well as belting and rubber fabrication, customized mechanical services, hose assemblies, repair, fluid analysis and motor management. More information is available at www.kaman.com.
VP, Investor Relations
Kaman Corporation, Bloomfield, CT
Director, Business Development
K-MAX® Helicopter Programs
Kaman Air Vehicles and MRO
(860) 243-7431 (office)
(860) 214-7225 (mobile)