21-May-2021 Source: CPI Aerostructures
CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE American: CVU) announced that it has entered into a new Long-Term Agreement (LTA) with Sikorsky Aircraft (“Sikorsky”), a Lockheed Martin Company, to overhaul and repair (O&R) outboard stabilator assemblies in support of the Sikorsky MH-60 SEAHAWK Performance-Based Logistics Program. The Company estimates this new LTA is valued at $17.2 million over a term that ends in 2027 and includes a single option for an additional two years.
CPI Aero has been a supplier of overhauled or repaired stabilator assemblies for the MH-60 SEAHAWK since 2012 and has delivered over 500 units to date. CPI Aero also manufactures new production assemblies for several Sikorsky platforms, including the UH-60 BLACKHAWK, S-92 and CH-53K.
Originally introduced into service in 1984, the MH-60 SEAHAWK is a maritime variant of the H-60 BLACKHAWK helicopter used for anti-submarine warfare, search and rescue, drug interdiction, anti-ship warfare, cargo lift, and special operations. The stabilator is a large horizontal structure that is part of the tail and consists of three parts: a center section and an outboard section on each side of the center. The two outboard stabilator panels fold on a SEAHAWK to make it easier to maneuver on board a ship. The US Navy has approximately 300 MH-60 helicopters in service at this time.
“This agreement further strengthens and extends the long-standing partnership between Sikorsky and CPI Aero that stretches back more than 15 years. It reflects well on our ability to meet or exceed Sikorsky’s standards where our experience in manufacturing new structural assemblies gives us a significant competitive advantage in the overhaul and repair of older structures. The H-60 ‘HAWK’ family of helicopters remains the gold standard multi-mission aircraft for U.S. forces and Allied Partner Nations and it is our honor to continue to support this iconic aircraft,” stated Douglas McCrosson, CPI Aero’s CEO & President.