The long Australian saga for Kaman Corp. symbolically came to an end last month, when the country returned the 11 Seasprite helicopters to the Bloomfield-based aerospace conglomerate late last month.
Last March, Kaman and the Australian government agreed to cancel the helicopter deal, which dated back to 1997. Kaman made out keeping most of the $600 million the Australian government had already paid, though the company said at the time it would pay back at least $37 million and release the country from $35 million owed for work already completed. Kaman also agreed to split the earnings from future sales of the returned helicopters.
Kaman is meanwhile surging ahead with efforts to market the helicopters.
Chief executive officer Neal Keating said the company has obtained export licenses for more than 40 countries and has already been in contact with several potential customers. Keating said the company expects to sell the returned aircraft by 2011.
Kaman also announced late February testing on the helicopter’s Integrated Tactical Avionics System had been completed, which the company said will boost the Seasprite’s marketability. The previous absence of an advanced software system caused program delays while still under contract with Australia.
Lights, ActionÂ
The state is willing to loan Connecticut Studios LLC $5 million for equipment, construction and other project-related activities if it invests in the development of a $65 million, high-tech film production studio on 61 acres in South Windsor.
Gov. M. Jodi Rell announced last week the state’s willingness to provide economic assistance to Connecticut Studios, a partnership between California-based Pacifica Ventures LLC and Rhode Island-based Halden Acquisition Group, developers from California and Rhode Island, for its project, which has the potential to create more than 100 permanent positions and as many as 1,500 production jobs.
The partnership has proposed to construct eight sound stages totaling 150,000 square feet, four office buildings totaling 75,000 square feet, a prescreening/visitor center and an additional 100,000 square feet of storage.
The complex would be located near the junction of Interstate 291 and Route 5.
