CPI Aerostructures Receives Follow-On Order from Sikorsky for S-92 Helicopter
June 5, 2017
EDGEWOOD, NY -- - CPI Aerostructures, Inc. ("CPI Aero®") (NYSE American: CVU) announced today that it has entered into a long term, follow-on contract with Sikorsky, a Lockheed Martin Company, to provide structural assemblies and kits for the S-92® helicopter program.
Under the terms of the agreement, CPI Aero will provide 15 different deliverable items including door assemblies, cover assemblies, and various installation kits used by Sikorsky to complete the final assembly of the S-92 helicopter. Each deliverable item has been manufactured by CPI Aero for the S-92 helicopter under a contract awarded in 2011.
“Having provided assemblies and kits for more than 140 S-92 aircraft since 2011, we are pleased to continue our business relationship with Sikorsky on this incredible aircraft into the next decade,” stated Douglas J. McCrosson, president and CEO of CPI Aero, “This follow-on order underscores our ongoing sales focus on multi-year opportunities underpinned by exceptional program execution with a focus on quality, value and customer service. We take great pride in the cooperation and close business relationship we have established with Sikorsky over the years and look forward to our mutual success on the S-92 and other aircraft.”
Sikorsky has delivered more than 275 S-92 helicopters since 2004. These helicopters perform search and rescue missions, head of state missions, as well as a variety of transportation missions for offshore oil and gas crews, utility and airline passengers. The S-92 helicopter is the preferred aircraft of its size class for off-shore oil transportation.
About CPI Aero
CPI Aero is a U.S. manufacturer of structural assemblies for fixed wing aircraft, helicopters and airborne Intelligence Surveillance and Reconnaissance pod systems in both the commercial aerospace and national security markets. Within the global aerostructure supply chain, CPI Aero is either a Tier 1 supplier to aircraft OEMs or a Tier 2 subcontractor to major Tier 1 manufacturers. CPI also is a prime contractor to the U.S. Department of Defense, primarily the Air Force. In conjunction with its assembly operations, CPI Aero provides engineering, program management, supply chain management, and MRO services. CPI Aero is included in the Russell Microcap® Index.
The above statements include forward looking statements that involve risks and uncertainties, which are described from time to time in CPI Aero's SEC reports, including CPI Aero's Form 10-K for the year ended December 31, 2016 and Form 10-Q for the quarter ended March 31, 2017.
CPI Aero® is a registered trademark of CPI Aerostructures, Inc. For more information, visit www.cpiaero.com, and follow us on Twitter @CPIAERO.
Chief Financial Officer
Investor Relations Counsel:
Jody Burfening/Sanjay M. Hurry