CPI Announces $3.6 M Civil Product Line Contract Award from Sikorsky
Year-to-Date Contract Awards Total a Record $42.9 Million
(Edgewood, N.Y., August 27, 2008) -- CPI Aerostructures, Inc. ("CPI Aero(R)") (AMEX: CVU) announced today that it has received a contract from Sikorsky Aircraft Corporation valued at $3.6 million for the S-92(R) helicopter. CPI Aero will be providing the forward emergency exit kits. Deliveries of these parts will begin in August 2009. Sikorsky is a subsidiary of United Technologies Corp. (NYSE: UTX).
The S-92 helicopter is the newest aircraft in Sikorsky's civil product line. The S-92 fleet spans 15 countries, and performs a number of missions including Offshore Oil, Corporate VIP and Head of State transport and Search and Rescue.
"We are very proud of the fact that we continue to expand our business base with Sikorsky, one of the world's leading helicopter manufacturers," stated Edward J. Fred, CPI Aero's CEO & President. "We are working diligently to provide quality products and to strengthen Sikorsky's confidence in CPI Aero as a premier subcontractor of aircraft structure and as a long term partner in their success."
Mr. Fred continued, "This award brings the total new year-to-date awards to $42.9 million, compared to only $17.3 million for the same period last year, and $37.7 million for all of last year."
Source : CPI Aerostructures Inc.
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