Kaman Wins $69M USAF JPF Order, Opens New Store In Illinois
Zacks Investment Research | Jun 05, 2018 06:06AM ET
Kaman Corporation (NYSE:KAMN) recently announced that its Aerospace segment has secured its foremost order under Option 14 of its present U.S. Air Force (USAF) Joint Programmable Fuze (JPF) contract. The estimated worth of this deal is $69 million.
Kaman has been providing JPF’s to USAF since 2002. The JPF permits the setting of a weapon to be automated in the flight wing and is presently USAF’s preferred bomb fuze. Moreover, JPF is compatible to be used in different types of weapons like guided bombs, and purpose bombs that use Paveway kits on U.S. aircrafts like F-22, F-35, B-1, A-10 and B-52. In addition to this, other overseas aircrafts like Gripen and Mirage 3 can include Kaman Corporation’s JPF. This fuze enjoys high demand for its mission flexibility and reliability.
Per the aforementioned contract, Kaman will be providing JPF’s to USAF and 10 other foreign militaries. The company noted that this contract has added nearly $500 million fresh JPF orders to its backlog. Kaman Corporations’ JPF production facilities are located in Florida, Middletown, Connecticut and Orlando.
Over the past month, shares of this Zacks Rank #2 (Buy) company have rallied 15.2%, as against the 0.3% loss recorded by the industry .
Lately, the company’s Distribution segment’s business arm, Kaman Fluid Power, has opened up a new ParkerStore in Peoria, IL. Customers will have the opportunity to learn about Kaman’s hydraulic repair services, power unit designing capabilities and fluid analysis program from the new store. Additionally, Kaman stated that the new store will act as a local inventory and will be helpful for providing its services in and around Peoria.
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