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Kaman Precision Products, Inc. and Tawazun Council Sign a Business Plan Approval Letter to Establish Fireburst™ System Height of Burst Manufacturing Technology in UAE
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Rhea-AI Sentiment
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Rhea-AI Summary
Kaman Corporation (NYSE: KAMN) has announced a collaboration with Tawazun Council to establish a Height of Burst manufacturing facility in Abu Dhabi. The facility, in partnership with Remah International Group, will utilize Kaman's FireBurst™ System for Laser Guided Bombs, allowing for enhanced technological capabilities in the UAE's defense sector. The initiative aims to create career opportunities for Emirati nationals and support local industries. The agreement was formalized during the International Defense Exposition (IDEX) 2023, highlighting Kaman's commitment to regional defense development.
Positive
Establishment of a Height of Burst manufacturing facility in collaboration with Tawazun and Remah International Group.
The facility will enhance technological capabilities in the UAE's defense sector.
Initiative aims to create career opportunities for UAE nationals, supporting local workforce development.
Negative
None.
ABU DHABI, United Arab Emirates--(BUSINESS WIRE)--
Kaman Corporation (NYSE: KAMN) announced today that its subsidiary, Kaman Precision Products, Inc. (KPPI), and the Tawazun Council (Tawazun) have signed a Business Plan Approval Letter (BPAL) for Kaman EMEA, Inc. to establish a Height of Burst (HOB) manufacturing and final assembly facility in collaboration with Remah International Group - Sole Proprietorship LLC (RIG) at the Tawazun Industrial Park. The BPAL was signed today in the Tawazun Pavilion at the International Defense Exposition (IDEX) 2023 by H.E. Tarik Al Hosani, Chief Executive Officer, Tawazun Council, and Carroll Lane, President, Kaman Precision Products, Inc.
“Our plan to manufacture the FireBurst™ System Height of Burst technology in the UAE underscores Kaman’s strong relationship with Tawazun and our pledge to support the UAE and Middle East region’s defense and security sectors,” said Carroll Lane, President, Kaman Precision Products, Inc. “This initiative is our first step in industrial collaboration technology capability development in the UAE, and it will further enhance the technological capabilities available in the UAE, while contributing to the expansion of innovative career opportunities for UAE nationals and others within the region,” stated Sharief Fahmy, Regional Executive Director of Kaman.
The FireBurst™ System HOB technology for Laser Guided Bombs will be utilized under Kaman’s planned joint venture with RIG and will serve multiple customers in the UAE and the region. The FireBurst™ System can be used with any Paveway® II General Purpose (GP) bomb configuration (GBU-10, GBU-12, GBU-16, GBU-58). It is a low cost force multiplier, effectively engages multiple targets with a single weapon, and requires no specialized tools for installation. The installation can be achieved by conducting a quick forward adapter swap in the field. It is cost effective and provides increased options for weapons effects.
Following the signing, Saif Al Awani, Chief Development Officer at Tawazun, stated that the BPAL comes as part of Tawazun’s mandate to enable defense and security industries in the UAE and its efforts to enable technology transfer. “It is through strong relationships and partnerships that we have the opportunity for further capability development, to attract investments for the private sector and to meet our Partners’ needs,” he added.
The planned Manufacturing Facility in the UAE will use advanced precision manufacturing and sustain the hiring of UAE nationals, including highly skilled Emirati Engineers. The facility at Tawazun Industrial Park is expected to further expand technological capabilities within the UAE, with the core focus on developing and supporting the local Aerospace and Defense industry. “The vision for the Defense Industry in UAE is clear and on target, we are honored to partner with Kaman and the UAE Armed Forces to support the vision and build a product in the UAE that we can be proud of,” said Mohamed Khalfan Al Qemzi, Chairman and Managing Director of Remah International Group.
About Kaman Corporation
Kaman Corporation, founded in 1945 by aviation pioneer Charles H. Kaman, and headquartered in Bloomfield, Connecticut, conducts business in the aerospace & defense, industrial, and medical markets. Kaman produces and markets proprietary aircraft bearings and components; super precision, miniature ball bearings; proprietary spring energized seals, springs and contacts; complex metallic and composite aerostructures for commercial, military and general aviation fixed and rotary wing aircraft; safe and arming solutions for missile and bomb systems for the U.S. and allied militaries; subcontract helicopter work; restoration, modification and support of our SH-2G Super Seasprite maritime helicopters; support of our heavy lift K-MAX® manned helicopter and the KARGO UAV unmanned aerial system, a purpose-built autonomous medium-lift logistics vehicle. More information is available at www.kaman.com.
Risks Associated with Forward-Looking Statements
This press release includes “forward looking statements” relating to the nature and timing of the [order] discussed above. These statements are based on assumptions currently believed to be valid but involve risks and uncertainties that could cause our actual results to differ from those expressed in the forward-looking statements. Important uncertainties that could cause our actual results to differ from those expressed in the forward-looking statements are identified in our reports filed with the SEC, including our Quarterly Reports on Form 10-Q, our Annual Reports on Form 10-K, and our Current Reports on Form 8-K. The forward-looking statements included in this press release are made only as of the date of this release, and Kaman does not undertake any obligation to update the forward-looking statements to reflect subsequent events or circumstances.
What is Kaman Corporation's recent announcement regarding KAMN?
Kaman Corporation announced a partnership with Tawazun Council to establish a Height of Burst manufacturing facility in Abu Dhabi.
What technology will be manufactured at the new facility in the UAE?
The facility will produce Kaman's FireBurst™ System for Laser Guided Bombs.
What are the benefits of the partnership between Kaman and Tawazun?
The partnership focuses on enhancing technological capabilities, creating career opportunities for Emirati nationals, and supporting the UAE's defense sector.
When was the Business Plan Approval Letter signed for the Kaman facility?
The Business Plan Approval Letter was signed during the International Defense Exposition (IDEX) 2023.
How will the new facility impact the UAE's defense industry?
The facility aims to develop local manufacturing capabilities and increase workforce engagement in the defense industry.
