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Kaman awarded $120M contract with New Zealand MoD

Kaman announced that the New Zealand Cabinet has authorized the New Zealand Ministry of Defence, or MoD, to enter into an approximately $120M contract with Kaman Aerospace for the purchase of ten SH-2G Super Seasprite aircraft, spare parts, a full mission flight simulator, and related logistics support. The MoD and Kaman expect to execute a contract in the next few weeks. Kaman anticipates the contract will call for the aircraft to be delivered over an approximately three year period with revenue recognition beginning in 2013.