3-Oct-2018 Source: CPI Aero
CPI Aerostructures, Inc. (“CPI Aero”) (NYSE American: CVU) announced that it has received purchase orders from Sikorsky, a Lockheed Martin Company (NYSE: LMT), totaling approximately $8 million for Hover Infrared Suppression System (HIRSS) module assemblies for use as spares on older variants of the UH-60 Black Hawk helicopter.
The HIRSS is a defensive countermeasures system that is integral to the survival of the UH-60 Black Hawk by reducing the opportunity for an infrared-seeking threat system to acquire, lock onto, track, and destroy the helicopter.
“CPI Aero first manufactured HIRSS module assemblies for the Black Hawk as original equipment in 2006, and Sikorsky last placed a small order back in 2013 at the height of the sequestration era. These new orders indicate to us our Government’s commitment to providing support to aircraft in need of maintenance and repair, especially in light of the recent passage of the John S. McCain National Defense Authorization Act for Fiscal Year 2019 that increases funding to rebuild the military’s readiness and modernization efforts. Our decades long experience manufacturing new structure for aging aircraft positions us to benefit from an improving defense aftermarket environment as we look to build momentum heading into 2019,” stated Douglas McCrosson, president and CEO of CPI Aerostructures.