News

CPI Aerostructures Announces $3.6 Million Civil Product Line Contract Award from Sikorsky Aircraft

EDGEWOOD, N.Y.-(Business Wire)-August 27, 2008 - CPI Aerostructures, Inc. (“CPI Aero®”) (AMEX: CVU) announced today that it has received a contract from Sikorsky Aircraft Corporation valued at $3.6 million for the S-92® helicopter. CPI Aero will be providing the forward emergency exit kits. Deliveries of these parts will begin in August 2009. Sikorsky is a subsidiary of United Technologies Corp. (NYSE: UTX).

The S-92 helicopter is the newest aircraft in Sikorsky's civil product line. The S-92 fleet spans 15 countries, and performs a number of missions including Offshore Oil, Corporate VIP and Head of State transport and Search and Rescue.

“We are very proud of the fact that we continue to expand our business base with Sikorsky, one of the world’s leading helicopter manufacturers,” stated Edward J. Fred, CPI Aero’s CEO & President. “We are working diligently to provide quality products and to strengthen Sikorsky’s confidence in CPI Aero as a premier subcontractor of aircraft structure and as a long term partner in their success.”

Mr. Fred continued, “This award brings the total new year-to-date awards to $42.9 million, compared to only $17.3 million for the same period last year, and $37.7 million for all of last year.”

About Sikorsky Aircraft

Sikorsky Aircraft Corporation, based in Stratford, Conn., is a world leader in helicopter design, manufacturing, and service. United Technologies Corp., based in Hartford, Conn., provides a broad range of high-technology products and support services to the aerospace and building systems industries.

About CPI Aero

CPI Aero is engaged in the contract production of structural aircraft parts for the U.S. Air Force, other branches of the armed forces and leading prime defense contractors. In conjunction with its assembly operations, CPI Aero provides engineering, technical and program management services. Among the key programs that CPI Aero supplies are the C-5A Galaxy cargo jet, the T-38 Talon jet trainer, the A-10 Thunderbolt attack jet, the E-3 Sentry AWACS jet, UH-60 BLACK HAWK helicopter, the Sikorsky S-92 helicopter, the MH-60S mine countermeasure helicopter, and the Gulfstream G650. 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, 2007, and Form 10-Q for the quarters ended March 31, 2008 and June 30, 2008.

CPI Aero^® is a registered trademark of CPI Aerostructures, Inc.

Send this news item to a friend.

Print This Page