CPI Aerostructures Signs $21 Million, Five-Year Supply Agreement with Sikorsky
CPI Aerostructures signed 2018-2022 supply agreement with Sikorsky to manufacture fuel panel assemblies for the UH-60M Black Hawk helicopter recent Multi-Year IX contract
CPI Aero, July 17, 2017 - EDGEWOOD, NY - CPI Aerostructures, Inc announced today that it has signed a long-term supply agreement with Sikorsky, a Lockheed Martin company, to manufacture fuel panel assemblies for the UH-60M Black Hawk helicopter.
This long-term agreement is valued at up to approximately $21 million for a period of five years, beginning in 2018 and ending in 2022 per Sikorsky and the U.S. Army’s recent signing of the Multi-Year IX contract.
CPI Aero has been producing fuel panel assemblies for the UH-60M since 2010. Since that time, CPI Aero has delivered more than 900 units to support the aircraft’s production line. Under the terms of the new agreement, CPI Aero will perform all manufacturing tasks for these assemblies, including purchasing and managing the supply chain for all detail parts and system components such as fuel valves, flexible hosing and tubing.
Douglas J. McCrosson, president and chief executive officer of CPI Aero, commented, “The fuel panel assembly is a key product within our aerosystems segment and is an excellent example of our capabilities outside of our traditional aerostructures market. The Black Hawk helicopter has been one of the most important aircraft systems to CPI Aero for the past 10 years, and it is gratifying that it will continue to be so for at least the next five years.”
The Black Hawk helicopter has become the leader in multi-mission-type aircraft. Among the mission configurations it serves are troop transport, medical evacuation, electronic warfare, attack, assault support and special operations.
About Lockheed Martin: Headquartered in Bethesda, Maryland, Lockheed Martin (NYSE:LMT) is a global security and aerospace company that employs approximately 97,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.
About CPI Aero: CPI Aero (NYSE MKT:CVU) is a U.S. manufacturer of structural assemblies for fixed wing aircraft, helicopters and airborne Intelligence Surveillance and Reconnaissance pod systems in both the commercial aerospace and national security markets. Within the global aerostructure supply chain, CPI Aero is either a Tier 1 supplier to aircraft OEMs or a Tier 2 subcontractor to major Tier 1 manufacturers. CPI also is a prime contractor to the U.S. Department of Defense, primarily the Air Force. In conjunction with its assembly operations, CPI Aero provides engineering, program management, supply chain management, and MRO services. CPI Aero is included in the Russell Microcap® Index.
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Sikorsky UH-60M Black Hawk
See also Five-Year Contract for 257 UH/HH-60M Black Hawk