Brief: Kaman Announces Next Transformational Steps To Optimize Cost Structure

Kaman

18/01/2023 14:23

Jan 18 (Reuters) - Kaman Corp  KAMN.N :
    * KAMAN ANNOUNCES NEXT TRANSFORMATIONAL STEPS TO OPTIMIZE
COST
STRUCTURE AND FOCUS ON HIGHEST GROWTH OPPORTUNITIES
    * KAMAN CORP - EXPECTS TO INCUR APPROXIMATELY $10 MILLION TO
$12
MILLION IN TOTAL PRE-TAX RESTRUCTURING CHARGES
    * KAMAN CORP - HAS IDENTIFIED AREAS TO REDUCE ANNUALIZED
COSTS BY
APPROXIMATELY $25 MILLION
    * KAMAN CORP - WILL DISCONTINUE K-MAX AND K-MAX TITAN
PRODUCTION
THIS YEAR
    * KAMAN - WILL CONTINUE TO SUPPORT EXISTING K-MAX FLEET IN
OPERATION, INCLUDING PROVIDING OPERATORS WITH REPAIR, SPARE
PARTS, FLEET SERVICES & TRAINING
    * KAMAN-EXPECTS AT LEAST $54 MILLION OF NON-CASH CHARGES
RELATED
TO WRITE-DOWN OF EXISTING AIRCRAFT,CONTRACT COSTS, EXCESS SPARE
PARTS,EQUIPMENT INVENTORIES

Source text for Eikon:  ID:nBw5jpkdQa 
Further company coverage:  KAMN.N