Kaman Corporation (NYSE:KAMN) announced today that its subsidiary Kaman Aerospace Corporation (Kaman) has entered into a new multi-year (MY) contract with Sikorsky, a Lockheed Martin (NYSE:LMT) company, which outlines the pricing and conditions for the manufacture of H-60 cockpits under the Department of Defense MY IX H-60 procurement authorization. The term of the MY agreement between Kaman and Sikorsky will be for five years, starting in 2018 and ending in 2022, per Sikorsky and the U.S. Army’s recent signing of the MY IX contract. Under the agreement, Kaman will continue to manufacture UH-60M Black Hawk and HH-60M MEDEVAC model cockpits for Sikorsky at Kaman’s Jacksonville, Florida, facility. Since 2004 Kaman has delivered more than 1,200 new H-60 cockpits to Sikorsky.
Kaman’s scope of work for the new agreement will continue to include final assembly of the cockpits as well as detail metal part manufacturing, and procurement of wiring harnesses, composite parts, hardware, flight control mechanisms, and other H-60 cockpit associated parts. In addition, for the new MY procurement, Kaman will be responsible for procuring and installing specified flight safety items.
“We are very pleased to extend our relationship with Sikorsky for another five years,” said Neal Keating, Chairman, President, and Chief Executive Officer of Kaman Corporation. “Sikorsky is a longstanding customer and we are proud of the confidence they have placed in us as a key supplier on the H-60 program. Kaman is honored to be Sikorsky’s primary supplier of American made H-60 cockpits in support of U.S. Armed Forces and allied militaries around the world.”
This release includes “forward looking statements” relating to the 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.
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