CPI Aero Secures Additional Orders From Sikorsky For HIRSS Module Assemblies Used In UH-60 Black Hawk Helicopters
June 13 2019 - 8:00AM
CPI Aerostructures, Inc. (“CPI Aero”) (NYSE American: CVU)
announced today 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.
About CPI AeroCPI Aero 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.
The above statements include forward looking statements that
involve risks and uncertainties, which are described from time to
time in CPI Aero's SEC reports, including CPI Aero's Form 10-K for
the year ended December 31, 2018, and Forms 10-Q for the
three-month period ended March 31, 2018 and June 30, 2018, and Form
10-Q/A for the three month period ended September 30, 2018.
CPI Aero® is a registered trademark of CPI Aerostructures, Inc.
For more information, visit www.cpiaero.com, and follow us on
Twitter @CPIAERO.
Contact:
Vincent PalazzoloChief Financial OfficerCPI Aero(631)
586-5200www.cpiaero.com |
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Investor Relations Counsel:LHAJody Burfening/Sanjay M. Hurry(212)
838-3777cpiaero@lhai.comwww.lhai.com |
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