CPI Aerostructures Receives Follow-On Order From Spirit AeroSystems for CH-53K Cabin Rack Assemblies
03 Mai 2021 - 2:30PM
CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE American: CVU) today
announced that it was awarded a follow-on order for nearly $1
million from Spirit AeroSystems (NYSE: SPR) to manufacture
cabin rack assemblies for new production CH-53K King Stallion
Helicopters, built by Sikorsky Aircraft. Deliveries are scheduled
for 2022. Including this new order, total orders from Spirit
AeroSystems for CH-53K assemblies now total approximately $3.6
million.
CPI Aero president and CEO Douglas McCrosson
stated, “CPI is proud to be the single source supplier of these
assemblies for the CH-53K King Stallion. The USMC is looking to
complete Initial Operational Test & Evaluation (IOT&E) and
declare Initial Operational Capability (IOC) for the CH-53K later
this year and we look forward to supporting higher production rates
as the program moves through Low-Rate Initial Production (LRIP) and
into Full-Rate Production (FRP).”
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 years ended December 31, 2019, and
December 31, 2020.
CPI Aero® is a registered trademark of CPI Aerostructures, Inc.
For more information, visit www.cpiaero.com, and follow us on
Twitter @CPIAERO.
Contact:Investor Relations Counsel:LHA Investor
RelationsJody Burfening(212) 838-3777cpiaero@lhai.com
www.lhai.com
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