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Kaman Corp Says Consolidating Joint Programmable Fuze Production

Published on December 08, 2022 07:52 AM PST

Kaman Corp Says Consolidating Joint Programmable Fuze Production — Image source: ©2022 Kalkine Media®

Dec 8 (Reuters) - Kaman Corp:

* KAMAN CORP - CONSOLIDATING JOINT PROGRAMMABLE FUZE PRODUCTION

* KAMAN CORP - WILL CONSOLIDATE PRODUCTION OF FUZES AT KAMAN'S MIDDLETOWN, CONNECTICUT FACILITY

* KAMAN CORP - ORLANDO FACILITY IS EXPECTED TO FULLY CEASE OPERATIONS BY END OF 2024

* KAMAN - ACTIONS TAKEN WITH RESPECT TO ORLANDO EXPECTED TO RESULT IN ANNUALIZED RUN-RATE COST SAVINGS OF ABOUT $12-$15 MILLION

* KAMAN CORP - ACTIONS TAKEN WITH RESPECT TO ORLANDO ARE EXPECTED TO RESULT IN TOTAL PRE-TAX RESTRUCTURING CHARGES OF $8 TO $10 MILLION

* KAMAN CORP - IN PROCESS OF STREAMLINING AND RE-SIZING CORPORATE ORGANIZATION TO BETTER REFLECT CURRENT SIZE OF COMPANY

* KAMAN CORP - EXECUTING SG&A REDUCTIONS AT STRATEGIC BUSINESS UNIT LEVEL

* KAMAN - PLANS TO PROVIDE ESTIMATE OF ANNUALIZED COST SAVINGS OBJECTIVE & UPDATE ON ONGOING PORTFOLIO SHAPING, COST REDUCTION EFFORTS EARLY IN Q1 2023 Source text for Eikon: Further company coverage:

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