CPI Aerostructures, Inc. (CPI Aero ®) (NYSE MKT:CVU) announced today that it has been selected by Spirit AeroSystems, Inc. (Spirit) (NYSE: SPR) to manufacture structural assemblies for four CH-53K heavy lift helicopter System Demonstration Test Articles (SDTA). Spirit will produce the four additional SDTA cockpit and cabin components of the CH-53K for its prime contractor Sikorsky Aircraft Corp (Sikorsky). CPI Aero will manufacture step platform assemblies and cabin rack assemblies. Delivery will occur in 2014 and 2015.
In May 2013, the US Navy funded four CH-53K demonstration aircraft that will be used for operational evaluation purposes. CPI Aero’s contract with Spirit includes firm requirements for approximately $1 million for the demonstration aircraft. The Navy program of record calls for the production of 196 aircraft, with initial operating capability targeted for 2019.
The CH-53K helicopter is a dual-piloted, multi-engine helicopter that will provide the U.S. Marine Corps with improved heavy lift capability, reduced operating costs, and state-of-the-art interoperability. The helicopter will be capable of operating day or night, in battlefield conditions and adverse worldwide climates, while fulfilling U.S. Marine Corps missions for movement of cargo and equipment, transportation of troops, and amphibious assault and operations ashore.
About Spirit AeroSystemsSpirit AeroSystems, with headquarters in Wichita, Kan., USA, is one of the world's largest non-OEM designers and manufacturers of aerostructures for commercial aircraft. In addition to its Wichita and Chanute facilities in Kansas, Spirit has locations in Tulsa and McAlester, Okla.; Kinston, N.C.; Nashville, Tenn.; Prestwick, Scotland; Preston, England; Subang, Malaysia; and Saint-Nazaire, France. In the U.S., Spirit's core products include fuselages, pylons, nacelles and wing components. Additionally, Spirit provides aftermarket customer support services, including spare parts, maintenance/repair/overhaul, and fleet support services in North America, Europe and Asia. Spirit Europe produces wing components for a host of customers, including Airbus.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts