Australia announced March 5 it will cancel the U.S. Kaman Corp. [KAMN] -produced Seasprite helicopter project, two aircraft short of completing an order for 11. The Rudd Labor government initiated a review of the project in late 2007 fulfilling pre-election campaign promises. The government had already invested $1.2 billion in the project. Minister for Defence Joel Fitzgibbon told reporters, "The project had to be canceled on safety grounds alone." Nine of 11 helicopters have been delivered but there have been…
Australia To Cancel Kaman Seasprite Helicopters
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