Kaman Announces $120M Contract for Ten SH-2G(I) Super Seasprite Aircraft
Kaman Corp. (NYSE: KAMN) today announced that the New Zealand Cabinet has
authorized the New Zealand Ministry of Defence (MoD) to enter into an
approximately $120 million contract with Kaman Aerospace Corporation
(Kaman) for the purchase of ten SH-2G(I) Super Seasprite aircraft, spare
parts, a full mission flight simulator, and related logistics support.
The MoD and Kaman expect to execute a contract in the next few weeks.
Kaman anticipates the contract will call for the aircraft to be
delivered over an approximately three year period with revenue
recognition beginning in 2013.
Neal J. Keating, Chairman of the Board, President and Chief Executive
Officer said, “We are very pleased to have reached this milestone