Karman Space & Defense Expands Pennsylvania Facility to Respond to Nation's Need to Strengthen Maritime Defense Industrial Base
$2.7 million investment increases production capabilities and supports the growth of a highly skilled aerospace and defense workforce
Karman Space & Defense ("Karman", "Karman Holdings Inc." or "the Company") (NYSE:KRMN), a leader in the rapid design, development and production of critical, next-generation system solutions that align with the U.S. Department of War’s core mission priorities and the nation’s accelerating demand for access to space, today announced the expansion of its Horsham, Pa. facility through a $2.7 million investment. The investment will expand Karman's capacity to rapidly develop and produce advanced technologies that support the operational readiness of US Navy and allied defense forces.
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Karman Space & Defense Expands Pennsylvania Facility
The expanded facility, which builds on Karman’s recent strategic acquisition of Seemann Composites and Materials Sciences, will accelerate the development, testing and qualification of advanced material technologies while increasing production capacity to meet the Navy’s demand signal. These capabilities will support the Navy’s need for more durable, high-performance coatings and survivability treatments that strengthen mission readiness for LCAC100 class propulsion system components while also addressing evolving maritime threats relevant to the broader surface Navy fleet.
The expansion supports Karman’s mission to meet increasing customer demand for unmanned airframe systems, precision launch and release technologies, and other mission critical solutions that support major defense customers and national security priorities.
Growth in this area is founded on historical successes with legacy platforms, such as Nulka Active Missile Decoy (PEO-IWS2) and Hellfire Dual-Rail Launcher Systems ((Moog Inc., NYSE:MOG), as well as a new collaboration with Ideal Aerosmith on its Troublemaker long-range UAS.
"As mission requirements continue to evolve, our customers need partners who can deliver with speed, agility, and scale," said Jon Rambeau, chief executive officer of Karman Space & Defense. "This investment expands our integrated capabilities, enabling us to transition advanced technologies from development to production faster, while strengthening the defense industrial base."
As part of the expansion, the company will create approximately 20 new high-tech jobs and retain 40 existing positions, supporting continued investment in the local workforce and contributing to the regional advanced manufacturing economy.
About Karman Space & Defense
Karman Space & Defense is a leader in the rapid design, development and production of critical, next-generation system solutions that align with the U.S. Department of War’s core mission priorities and the nation’s accelerating demand for access to space. Building on nearly 50 years of success, we deliver Payload Protection & Deployment Systems, Hydro/Aerodynamic Interstage Systems, and Propulsion & Launch Systems to more than 80 prime contractors supporting over 130 space and defense programs. Karman is headquartered in Huntington Beach, CA, with multiple facilities across the United States. For more information, visit our website, https://karman-sd.com/.
Safe Harbor Statement
This announcement may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We intend all forward-looking statements to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the fact that they do not relate strictly to historical or current facts and by the use of forward-looking words such as "expect," "expectation," "believe," "anticipate," "may," "could," "intend," "belief," "plan," "estimate," "target," "predict," "likely," "seek," "project," "model," "ongoing," "will," "should," "forecast," "outlook" or similar terminology. These statements are based on and reflect our current expectations, estimates, assumptions and/ or projections, our perception of historical trends and current conditions, as well as other factors that we believe are appropriate and reasonable under the circumstances. Forward-looking statements are neither predictions nor guarantees of future events, circumstances or performance and are inherently subject to known and unknown risks, uncertainties and assumptions that could cause our actual results to differ materially from those indicated by those statements. There can be no assurance that our expectations, estimates, assumptions and/or projections, including with respect to the future earnings and performance or capital structure of Karman, will prove to be correct or that any of our expectations, estimates or projections will be achieved.
Numerous factors could cause our actual results and events to differ materially from those expressed or implied by forward-looking statements, including, without limitation, that a significant portion of our revenue is generated from contracts with the United States military and U.S. military spending is dependent upon the U.S. defense budget; U.S. government contracts are subject to a competitive bidding process that can consume significant resources without generating any revenue; our business and operations expose us to numerous legal and regulatory requirements, and any violation of these requirements could materially adversely affect our business, results of operations, prospects and financial condition; our inability to adequately enforce and protect our intellectual property or defend against assertions of infringement could prevent or restrict our ability to compete; and we have in the past consummated acquisitions and intend to continue to pursue acquisitions, and our business may be adversely affected if we cannot consummate acquisitions on satisfactory terms, or if we cannot effectively integrate acquired operations. Readers and/or attendees are directed to the risk factors identified in the filings we make with the SEC from time to time, copies of which are available free of charge at the SEC’s website at www.sec.gov under Karman Holdings Inc.
The forward-looking statements included in this announcement are only made as of the date of this announcement. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable law.
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