Kaman announces discontinuation of K-MAX helicopter
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Aerospace products, such as Kaman Corp.’s K-MAX heavy-lift helicopters, have traditionally been among the state's top exports, but the COVID-19 pandemic greatly disrupted the sector.
Bloomfield-based aerospace manufacturer Kaman Corp. on Wednesday announced it’s discontinuing production of its K-MAX heavy-lift helicopter in 2023.
In addition, the company said it will consolidate its remaining Joint Programmable Fuze (JPF) program operations as part of a larger restructuring that is expected to save the company about $25 million annually.
Kaman said the changes will lead to job cuts, but it declined to say how many and where the layoffs would occur.
“With respect to workforce reductions, we do not take these decisions lightly,” said Kaman President and CEO Ian Walsh. “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.”
Kaman said that while it is discontinuing K-MAX helicopter production, it will continue to support the existing fleet through repairs, spare parts, and fleet services and training. Kaman has designed and produced 60 K-MAX helicopters over the past 30 years, it said.
Kaman previously shut down K-MAX production before restarting it in 2015 following a 12-year hiatus.
Kaman said that more details about the company’s changes will be available during its 2022 fourth quarter earnings call and report in February.
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