CPI Aero Awarded $5M CH-148 Contract

CPI Aero Awarded $5M CH-148 Contract 5 Oct, 16, Source: CPI Aero

CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE MKT: CVU) today announced that Sikorsky, a Lockheed Martin Company (NYSE: LMT), has awarded CPI Aero purchase orders valued at approximately $5 million to manufacture the weapon pylon for the Sikorsky CH-148 Cyclone, a twin-engine, multi-role shipboard helicopter being manufactured by Sikorsky for the Royal Canadian Air Force (RCAF). CPI Aero will produce weapon pylons for 28 aircraft with deliveries through 2018.

A military variant of the Sikorsky S-92® helicopter, the CH-148 is designed for shipboard operations. The Cyclone is to be operated by the RCAF and will conduct anti-submarine warfare, surveillance, and search and rescue missions from Royal Canadian Navy warships.

“This award recognizes our long-standing and excellent past performance with Sikorsky that spans over a decade across multiple aircraft, including the UH-60, S-92, and now the CH-148,” stated Douglas McCrosson, president and chief executive officer of CPI Aero. “This is our first new contract with Sikorsky as a Lockheed Martin Company, and we are excited to continue to expand our business with Lockheed Martin, the world’s largest defense contractor.”

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