BLOOMFIELD, Conn. / CRWEPRESSRELEASE / November 23, 2015 – (NYSE:KAMN) Kaman Aerospace Group (Kaman) announced today that its Air Vehicles and MRO division has executed an agreement for delivery in 2017 of two manned K-MAX® heavy-lift utility helicopters with Lectern Aviation Supplies Co., Ltd. (Lectern) of China.
The orders are the first to be received from a Chinese customer, and represent the introduction of the K-MAX into China’s large and growing aviation market. The first two helicopters will begin operations fighting fires for the China Department of Forestry. “The K-MAX has proven itself worldwide as a very reliable, low-maintenance helicopter with high availability rates, attributes that will help meet China’s growing demand for a responsive, heavy-lift, utility helicopter” stated Simon Lau, Director of Sales for Lectern.
“This agreement with Lectern represents the continued growth of confidence in the K-MAX helicopter from customers around the world” stated Terry Fogarty, Director, Business Development, K-MAX Helicopter Programs at the Kaman Air Vehicles and MRO division. “We are confident that customers in China will appreciate the reliability and high, hot performance of the K-MAX helicopter demanded by firefighting missions. The Chinese market possesses significant market potential for the K-MAX and we are working to capitalize on these additional opportunities.”
K-MAX aircraft are used around the world for firefighting, logging and other missions requiring repetitive aerial lift capabilities. The U.S. Marine Corps maintains two unmanned K-MAX® aircraft developed with Lockheed Martin. These aircraft successfully supported the U.S. Marine Corps in Afghanistan for thirty-three months from 2011-2014 carrying more than 4.5 million pounds of cargo. Additional unmanned firefighting and humanitarian missions for K-MAX® are also being developed and tested.
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/or markets widely used proprietary aircraft bearings and components; complex metallic and composite aerostructures for commercial, military and general aviation fixed and rotary wing aircraft; aerostructure engineering design analysis and FAA certification services; safe and arm solutions for missile and bomb systems for the U.S. and allied militaries; subcontract helicopter work; production of the K-MAX® medium-to-heavy lift helicopter and support for the company's SH-2G Super Seasprite maritime aircraft. More information is available at www.kaman.com.
Kaman is represented on K-MAX sales in the Chinese market by George Schafer of Innovative Minds, LLC.
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)
Source: Kaman Corporation