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CPI Aerostructures Announces $2.85 Million Spares Contract from Sikorsky Aircraft

Dépèche transmise le 26 mai 2011 par Business Wire

CPI Aerostructures Announces $2.85 Million Spares Contract from Sikorsky Aircraft

EDGEWOOD, N.Y.--(BUSINESS WIRE)--CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE Amex: CVU) announced today that it has entered into a five year agreement covering up to $9.2 million in structural assemblies to be supplied to Sikorsky Aircraft Corp. for use as spares for its BLACK HAWK® military helicopter. The initial purchase order under this agreement is for $2.85 million. Delivery is expected to begin in early 2012. Sikorsky is a subsidiary of United Technologies Corp. (NYSE: UTX).

The agreement includes four different variants of Hover Infrared Suppression Subsystem (HIRSS) Modules for “L” and “M” model BLACK HAWK helicopters. CPI Aero has been manufacturing HIRSS Modules for Sikorksy since 2006. This new agreement covers Sikorsky’s best estimated quantity requirements for these assemblies through 2015.

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 leading prime defense contractors, the U.S. Air Force, and other branches of the armed forces. CPI Aero also acts as a subcontractor to prime aircraft manufacturers in the production of commercial aircraft parts. 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 E-2D Hawkeye surveillance aircraft, the UH-60 BLACK HAWK helicopter, the S-92^® helicopter, the MH-60S mine countermeasure helicopter, MH-53 and CH-53 variant helicopters, the Gulfstream G650, C-5A Galaxy cargo jet, the A-10 Thunderbolt attack jet, and the E-3 Sentry AWACS jet. 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, 2010 and Forms 10-Q for the quarters ended March 31, 2011.

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