Kaman Receives Orders for Two Additional K-MAX® Aircraft; Announces Lot III Production Authorization
BLOOMFIELD, Conn.--(BUSINESS WIRE)--Nov 28, 2018--Kaman Aerosystems (Kaman), a division of Kaman Corporation (NYSE:KAMN), announced today that it received orders for two additional K-MAX ® helicopters, expanding the fleet of operators to two new customers who will take delivery in the coming months. Further, given consistent demand the company has approved continuous manufacture of the versatile medium lift workhorse aircraft with the authorization of Lot III production.
Mountain Blade Runner Helicopters of Montrose, Colorado, will become the newest K-MAX ® operator, utilizing the aircraft to support high altitude external lift operations and firefighting missions. “We are adding K-MAX ® to our fleet of AS350B3e helicopters which essentially doubles our lift capability at high altitudes and provides a strong U.S. Forest Service Type 1 firefighting helicopter to combat fires,” stated Bryson Gray, President of Mountain Blade Runner.
St. Louis Helicopter of Sellersburg, Indiana, will also expand its fleet with the addition of a K-MAX ®. The aircraft will be used for agricultural aerial solutions, such as seeding, fertilizing and firefighting, where the increased lift capacity will expand their overall capability. Jim Robinson, Owner of St. Louis Helicopter, said, “the significant increased lift capacity of the K-MAX ® brings expanded business solutions, it cost-effectively serves the expanding needs of our customers, where we have implemented the use of greener aircraft which are quieter and more cost-efficient.”
St. Louis Helicopter will finance their aircraft through a leasing arrangement with Rainier Heli International Inc. Kaman and Rainier entered into an agreement earlier this year under which Rainer offers K-MAX ® leasing solutions to customers. “As a K-MAX ® owner-operator ourselves for more than two decades, we understand the outstanding value proposition K-MAX ® offers to the external lift market, including firefighting and power line construction,” stated Lon Halvorson, CEO of Rainier. “We are pleased to bring Kaman and St. Louis Helicopter together through our financing alternative.”
“We are delighted to add two new K-MAX ® operators. We are finding that operators are evaluating their entire fleet and looking to expand their overall capabilities and K-MAX ® provides a much-needed solution,” stated Darlene Smith, V.P. and General Manager of the Air Vehicles & MRO platform of Kaman Aerosystems.
Development of the K-MAX ® was led by Kaman founder and former CEO, aviation pioneer Charles H. Kaman, and received Federal Aviation Administration certification in 1994. The single-engine, single-seat K-MAX ® is a rugged low-maintenance aircraft that features a counter-rotating rotor system and is optimized for external load operations and designed specifically for vertical reference flight. The aircraft can lift up to 6,000 pounds (2,722 kg).
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 markets proprietary aircraft bearings and components; super precision, miniature ball bearings; 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; subcontract helicopter work; restoration, modification and support of our SH-2G Super Seasprite maritime helicopters; and manufacture and support of our K-MAX ® manned and unmanned medium-to-heavy lift helicopters. The company is a leading distributor of industrial parts, and operates approximately 240 customer service centers and five distribution centers across the U.S. and Puerto Rico. Kaman offers more than four million items including bearings, mechanical power transmission, electrical, material handling, motion control, fluid power, automation and MRO supplies to customers in virtually every industry. Additionally, Kaman provides engineering, design and support for automation, electrical, linear, hydraulic and pneumatic systems as well as belting and rubber fabrication, customized mechanical services, hose assemblies, repair, fluid analysis and motor management. More information is available at www.kaman.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20181128005188/en/
CONTACT: James Coogan
VP, Investor Relations
Kaman Corporation, Bloomfield, CT
Senior Director, Business Development
Kaman Air Vehicles and MRO
KEYWORD: UNITED STATES NORTH AMERICA CONNECTICUT
INDUSTRY KEYWORD: TRANSPORT AIR MANUFACTURING AEROSPACE ENGINEERING
SOURCE: Kaman Aerosystems
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PUB: 11/28/2018 07:00 AM/DISC: 11/28/2018 07:01 AM