CPI Aerostructures Receives $3.8 M Contract Amendment for AH-1Z Viper Helicopter Components

Increases IDIQ Contract Value to $18.6 Million in Support of Advanced Marine Corps Attack Platform

CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE American:CVU) announced today that it has received an amendment to an indefinite-delivery/indefinite-quantity (IDIQ) contract from Bell Helicopter, a Textron Inc. (NYSE: TXT) company, for the manufacture of engine cowl assemblies and support assemblies for the AH-1Z Viper attack helicopter. The contract amendment extends the period of performance by one year and is valued at $3.8 million. The IDIQ contract, previously announced by CPI Aero in January 2017, now has a potential value of $18.6 million based on the estimated order quantity during the period of performance ending December 31, 2021. CPI Aero has manufactured such assemblies for the AH-1Z Viper since 2011.

The AH-1Z Viper is a twin-engine attack helicopter used by the United States Marine Corps. The AH-1Z program reached initial operational capability in September 2010 and began full-rate production in December 2010. In May 2016, Bell Helicopter was awarded a contract that included 16 AH-1Z helicopters as part of the Marine Corps’ H-1 Program of Record, which calls for the acquisition of a total of 189 AH-1Z Vipers and 160 UH-1Y “Venom” utility helicopters.

The Bell AH-1Z Viper is among the world’s most lethal anti-armor attack helicopter, capable of carrying the widest array of ordnance of any helicopter in the world. Target identification is crucial in the modern battlefield, and the Bell AH-1Z’s Target Sight System provides the longest range and highest accuracy of any helicopter sight available, as it allows the operators of the AH-1Z to identify and track multiple targets outside the enemy’s ability to visually detect the Viper. Unlike other attack helicopters, the AH-1Z Viper has integrated air-to-air strike capability in addition to superior air-to-ground anti-armor performance. This capability set makes the AH-1Z the ideal platform to meet the requirements of land warfare scenarios in any of the potential hot spots around the world.

Source: CPI Aerostructures, Inc.
Date: Mar 13, 2018