CPI Aerostructures Announces $4.1 Million Civilian Helicopter Contract Award from Sikorsky Aircraft(Edgewood, N.Y., June 7, 2007) -- CPI Aerostructures, Inc. (AMEX: CVU) ("CPI Aero") announced today that it has entered into a long term general purchase agreement for a period of five years covering $4.1 million in structural assembly kits to be supplied to Sikorsky Aircraft Corp. for its S-92(R) civil helicopter program. Sikorsky is a business unit of United Technologies Corp. (NYSE: UTX).
Each kit contains various subassemblies, detail parts and installation hardware used by Sikorsky to complete the final assembly of the S-92. Deliveries of the kits are expected to commence in early 2008 and will continue through 2013. This new award is in addition to the S-92 seat fitting kits, search and rescue (SAR) door provision kits and SAR door completion kits announced in December 2006.
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The S-92 is the newest aircraft in Sikorsky's civil product line. The S-92 fleet spans several countries, and performs a number of missions, including Offshore Oil, Corporate VIP, Head of State and Search and Rescue.
"We are very proud that Sikorsky, one of the world's leading helicopter manufacturers, has once again selected us to provide important assemblies for its production requirements," stated Edward J. Fred, CPI Aero's CEO & President. "This $4.1 million award is a validation of the quality and on-time delivery we've shown on previous purchase orders, and demonstrates our continued commitment to Sikorsky as a significant and valued customer."
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Source : CPI Aerostructures, Inc.