Sikorsky Awards Five-Year Contract to CPI Aerostructures

EDGEWOOD, N.Y., Nov. 15, 2022 (GLOBE NEWSWIRE) — CPI Aerostructures, Inc. (CPI Aero®) (NYSE American: CVU) today announced that it has been awarded a five-year, indefinite delivery indefinite quantity (IDIQ) contract from Sikorsky, a Lockheed Martin company, to manufacture gunner window assemblies for the UH-60M Black Hawk helicopter. Shipments under this long-term agreement are expected to begin in 2023 and end in 2027.

The gunner windows are of two-piece construction located just behind the pilot seat on each side of the aircraft. They slide open for use by the machine gun operator. CPI Aero has been producing gunner window assemblies for the Black Hawk since 2010.

“CPI Aero is proud of the work we have completed for Sikorsky on this critically important aircraft under two previous multi-year contracts for the gunner window assemblies. This third consecutive multi-year contract demonstrates our capability to sustain a high-level of performance over a prolonged period of time with one of our longest-standing customers,” commented Dorith Hakim, President and CEO of CPI Aerostructures.

About CPI Aero

CPI 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.

Forward-looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included or incorporated in this press release are forward-looking statements. Forward-looking statements involve risks and uncertainties, and actual results could vary materially from these forward-looking statements. The Company does not guarantee that it will actually achieve the plans, intentions or expectations disclosed in its forward-looking statements and you should not place undue reliance on the Company’s forward-looking statements.

There are a number of important factors that could cause the Company’s actual results to differ materially from those indicated or implied by its forward-looking statements, including those important factors set forth under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K for the period ended December 31, 2021 and the Company’s subsequent filings with the Securities and Exchange Commission. Although the Company may elect to do so at some point in the future, the Company does not assume any obligation to update any forward-looking statements and it disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

CPI Aero® is a registered trademark of CPI Aerostructures, Inc. For more information, visit www.cpiaero.com, and follow us on Twitter @CPIAERO.