MDHI and Kaman Reconcile
After several years of precarious business relations, MD Helicopters (MDHI) has reached a multi-year agreement with Kaman Aerospace for the Connecticut company to once more provide components for its production lines. Kaman will now supply rotor blades, pitch cases and flex beams for the MD 902 and other types.
After one quarter of FY2004, Kaman filed a loss after writing off $20.1 million invested in contracts with MD Helicopters. As partial compensation for this, under the terms of the new agreement, the company received from MDHI $4 million and expects an additional $1 million by the end of the first quarter of this year.