24-Jun-2019 Source: CPI Aerostructures
CPI Aerostructures, Inc. (“CPI Aero”) (NYSE American: CVU) announced that it has received purchase orders totaling approximately $14 million from Sikorsky, a Lockheed Martin Company, for Hover Infrared Suppression System (HIRSS) module assemblies for use as spares on older variants of the UH-60 Black Hawk helicopter. Deliveries under these orders will commence in 2020 and be completed in 2022.
As previously disclosed, the company received purchase orders totaling approximately $8.0 million in October 2018 for HIRSS systems from Sikorsky for the Black Hawk. Deliveries under the October 2018 orders will commence before the end of 2019 and continue into 2021.
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.
“With more than 4,000 UH-60s deployed worldwide, HIRSS provides critical support to our Army aviators and keeps them safe. In addition, over the past six months, we have received more than $22 million in orders for our HIRSS module assemblies, demonstrating the importance of this platform as a source of near-term opportunities for CPI Aero,” stated Douglas McCrosson, president and CEO of CPI Aerostructures.