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NEWS | K-MAX in US Kaman

Kaman Terminates K-MAX Production

Cost reduction and efficiency initiatives, including JPF consolidation and K-MAX and K-MAX Titan (unmanned) product discontinuation expected to drive approximately $ 25M annual savings





Kaman Terminates K-MAX Production
Kaman, January 20, 2023 - BLOOMFIELD, CT - Kaman Corporation announced the next phase in its portfolio reshaping efforts to optimize its cost structure, focus resources on the most compelling growth opportunities, improve financial performance and position Kaman to deliver sustainable shareholder value.

In total, including the previously announced anticipated savings related to the Joint Programmable Fuze (“JPF”) program consolidation, the Company expects to realize approximately $25 million of annualized run-rate cost savings.

Over the past 30 years, Kaman has designed and produced 60 K-MAX® helicopters with unmatched precision and efficiency for industries such as firefighting, construction and emergency response.

However, the Company determined that given low demand and variation in annual deliveries, coupled with low profitability and large working capital inventory requirements, K-MAX® does not deliver the most compelling growth opportunity for Kaman going forward.

As such, Kaman will discontinue K-MAX® and K-MAX TITAN production this year.

Kaman will continue to support the existing K-MAX® fleet in operation, including providing operators with repair, spare parts, and fleet services as well as training.

Mr. Walsh continued, “With respect to workforce reductions, we do not take these decisions lightly. We value the tremendous contributions of our colleagues who worked to position Kaman for its next chapter of growth and success and are committed to supporting them through this transition. We remain focused on advancing our strategic priorities to maximize Kaman’s performance for the benefit of our customers and shareholders.”

The Company plans to provide additional detail on the matters discussed in this press release, as well as growth opportunities for 2023, when it reports its fourth quarter and full year 2022 results in February 2023.

About Kaman : Kaman Corporation (NYSE: KAMN), founded in 1945 by aviation pioneer Charles H. Kaman, and headquartered in Bloomfield, Connecticut, conducts business in the aerospace & defense, industrial and medical markets.

Kaman produces and markets proprietary aircraft bearings and components; super precision, miniature ball bearings; proprietary spring energized seals, springs and contacts; wheels, brakes and related hydraulic components for helicopters, fixed-wing and UAV aircraft; 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; and the KARGO UAV unmanned aerial system, a purpose built autonomous medium lift logistics vehicle.

It also conducts subcontractor helicopter work and supports the Company’s existing fleet of K-MAX® and SH-2G Super Seasprite maritime helicopters.


  See also


K-MAX in US Kaman
Kaman K-MAX Titan
helicopter Helicopters Markets & Finance




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