Sat, Mar 22, 2008
But Looses Little In Agreement
The next time you go to buy a
new car, or airplane... you might want to take a
negotiator from Kaman Corp. with you. The US helicopter maker
reached an agreement this week with the Australian government to
cancel a controversial 1997 order that was years behind schedule...
but in the end, one could argue Kaman still came out way ahead.
The Hartford Courant reports the agreement -- reached Wednesday,
following a series of negotiations between both sides at Kaman's
headquarters in Bloomfield, CT -- will leave Kaman with all the
SH-2G Seasprite helicopters it had contracted to provide to the
Australian Navy... and, most of the $600 million Australia had
already paid towards the deal.
See what we mean?
As ANN reported, nine
helicopters were delivered to Australia out of 11 signed for... and
those birds were delivered years after the agreed-upon 2002 date.
Furthermore, Australia alleged flight testing of those delivered
Seasprites turned up safety concerns; the navy grounded its
Seasprites in April 2006.
Incoming Australian Prime Minister Kevin Rudd ordered the
contract cancelled last year... but Kaman played hardball, saying
Australia would have to negotiate terms. The manufacturer also
stuck by the Seasprite's safety record, noting New Zealand and
other countries use the helicopters with no major problems.
Under Wednesday's agreement, Kaman conceded the delays, saying a
former subcontractor was to blame -- notably, in the slow
development of a promised advanced avionics system. The
manufacturer will buy back all 11 Seasprites, and try to resell
them... with Australia and Kaman splitting the profits.
Kaman also agreed to pay Australia at least $37 million in
retributions, and release it from a $35 million payment against
work already performed. Australia will see that money regardless of
whether Kaman is able to resell the helicopters.
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