Key Developments For Kaman Corporation
Kaman Corporation (KAMN.O) (Nasdaq)
Kaman Corp. Announces $53 Million Composites Contract From Bell Helicopter
Kaman Corp. announced that Helicopters Division of its subsidiary, Kaman Aerospace Corporation has been awarded a five year contract with a potential value of $53 million to build composite helicopter blade skins and skin core assemblies for Bell Helicopters. Under the terms of the contract, Kaman will provide 18 different assemblies for H1, 406, 407, 412, 427, 429, 430 and BA609 aircraft. All work will be performed at the Kaman HeliworX full-service aerospace innovation and manufacturing support center in Bloomfield, Connecticut. Initial deliveries to Bell's Hurst, Texas, facility will begin in late 2009.
Kaman Corp. Receives U.S. Marine Corps Contract To Demonstrate Unmanned Cargo Delivery
Kaman Corp. announced that the Helicopters Division of its subsidiary, Kaman Aerospace Corporation has received an $864,000 contract from the U.S. Marine Corps on behalf of Team K-MAX to demonstrate the ability of the Unmanned K-MAX helicopter to deliver cargo to troops in extreme environments and at high altitudes. Team K-MAX is comprised of Kaman and Lockheed Martin. Kaman will award a subcontract to Lockheed Martin to integrate a beyond line of sight data link and unmanned aerial system (UAS) mission management system with Kaman's aerial truck, the K-MAX.
Kaman Corp. Declares Quarterly Dividend
Kaman Corp. announced that its Board of Directors declared a regular quarterly dividend of $0.14 per common share. The dividend will be paid on October 26, 2009, to shareholders of record on October 12, 2009.
Kaman Corp. Awarded Joint Programmable Fuze Contract Options
Kaman Corp. announced that its Precision Products operation has entered into a contract modification with the United States Air Force (USAF) for the award of Options 6, 7 and 8 under the Company's multi-option Joint Programmable Fuze (JPF) contract. The modification provides new prices and quantities for the next three option buys upon exercise and updates the original contract negotiated in 1997. The new value of the next option (Option 6) of the contract is approximately $53 million. Deliveries are expected to begin in the second quarter of 2010. Upon exercise, the value of Options 7 and 8 will depend on the quantity options selected by the USAF, add-ons, foreign military orders and future funding.
Kaman Corp. Announces Filing Of Shelf Registration Statement
Kaman Corp. announced that it has filed a universal shelf registration on Form S-3 with the Securities and Exchange Commission (SEC). The shelf registration is subject to review by the SEC. Upon being declared effective, the shelf registration statement will permit the Company to offer and sell from time to time, up to $200 million of equity, debt or other types of securities described in the registration statement, or any combination thereof, in one or more future public offerings.
