4-May-2022 Source: Air Industries Group
Air Industries Group (NYSE American: AIRI), an integrated Tier 1 manufacturer of precision assemblies and components for mission-critical aerospace and defense applications, and a prime contractor to the U.S. Department of Defense, announced that its Long Island-based subsidiary, Air Industries Machining Corp., has been awarded two separate Long-Term Agreements (LTAs) to manufacture flight-critical assemblies for the Blackhawk helicopter. The estimated value of the two LTAs will total approximately $8.3 million over their five-year terms.
Mr. Lou Melluzzo, CEO of Air Industries, commented: “These assemblies were added to our existing LTA because of our demonstrated delivery performance for this customer, which is largely attributable to our recent investments in capital equipment over the past 18 months. Together with the orders that were previously announced on January 19th, and on February 2nd this represents an estimated $28.9 million in components for Blackhawk helicopters over the life of the agreements. We are pleased to continue to expand our support of one of our major military aircraft platforms.”