Brief: Kaman Corp Says Consolidating Joint Programmable Fuze Production

Kaman

08/12/2022 15:52

Dec 8 (Reuters) - Kaman Corp  KAMN.N :
    * 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:  ID:nBw16xbkqa 
Further company coverage:  KAMN.N 
 ((Reuters.Briefs@thomsonreuters.com;))