EDGEWOOD, N.Y.--(BUSINESS WIRE)--
CPI Aerostructures, Inc. (CPI Aero®) (NYSE MKT: CVU) today
announced that Embraer S.A. (NYSE: ERJ; BM&FBOVESPA: EMBR3),
headquartered in São José dos Campos, Brazil, has amended its 2012 long
term supply agreement with CPI Aero for the manufacture of engine inlet
assemblies for the Phenom 300 business jet.
The amendment is expected to generate incremental sales of approximately
$9 million over the next several years compared to the original
agreement. The overall value of the long term agreement is now estimated
by CPI Aero to be in excess of $50M.
About Embraer S.A.
Embraer S.A. is the world’s largest manufacturer of commercial jets up
to 130 seats, and one of Brazil’s leading exporters. Embraer’s
headquarters are located in São José dos Campos, São Paulo, and it has
offices, industrial operations and customer service facilities in
Brazil, China, France, Portugal, Singapore, and the U.S. Founded in
1969, the Company designs, develops, manufactures and sells aircraft and
systems for the commercial aviation, executive aviation, and defense and
security segments. It also provides after sales support and services to
customers worldwide. For more information, please visit www.embraer.com.br.
About CPI Aero
CPI Aero is a U.S. manufacturer of structural assemblies for fixed wing
aircraft, helicopters and airborne Intelligence Surveillance and
Reconnaissance (ISR) 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. Among the key national security programs that CPI Aero
supplies are the E-2D Advanced Hawkeye surveillance aircraft, the A-10
Thunderbolt attack jet, the UH-60 BLACK HAWK® helicopter, the
MH-53/CH-53 variant helicopters, the MH-60S mine countermeasure
helicopter, the AH-1Z ZULU attack helicopter, the DB-110 reconnaissance
pod and the ALMDS mine detecting pod. In the commercial aviation market
CPI Aero manufactures products for the Gulfstream G650 ultra-large cabin
business jet, the HondaJet advanced light Jet, the Embraer Phenom 300
business jet, the new Cessna Citation X+, and the S-92® helicopter. 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, 2013 and Form 10-Q for the quarter ended March 31, 2014.
CPI Aero® is a registered trademark of CPI Aerostructures, Inc.
CPI Aero
Vincent Palazzolo, 631-586-5200
Chief Financial
Officer
www.cpiaero.com
or
Investor
Relations Counsel
The Equity Group Inc.
Lena Cati, 212-836-9611
www.theequitygroup.com
Source: CPI Aerostructures, Inc.