EDGEWOOD, N.Y.--(BUSINESS WIRE)--
CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE MKT:CVU) today
announced that during the Annual Meeting of Shareholders Terry Stinson
was elected to its Board of Directors. Mr. Stinson will serve a
three-year term.
Mr. Stinson brings over 45 years of executive leadership in the
aerospace and defense industry. Since 2007, Terry was a senior executive
with AAR Corp., an international, publicly traded aerospace
manufacturing and services company, ending his term there in May 2014 as
Executive Vice President. Since 2001, Mr. Stinson has been Chief
Executive Officer of his own consulting practice, Stinson Consulting,
LLC, engaged in strategic alliances and marketing for the aerospace
industry.
From 1998 to 2001, Mr. Stinson was Chairman and Chief Executive Officer
of Bell Helicopter Textron Inc., the world’s leading manufacturer of
vertical lift aircraft, and served as President from 1996 to 1998. From
1991 to 1996, Mr. Stinson served as Group Vice President and Segment
President of Textron Aerospace which included Cessna Aircraft Company.
Prior to that position, he was President of the Hamilton Standard
Division of United Technologies Corporation, a defense supply company,
since 1986.
Mr. Stinson is currently a director of Lennox International Inc.,
company engaged in the design and manufacture of heating, ventilation,
air conditioning and refrigeration products. Mr. Stinson previously
served as a director of Triumph Group, Inc., a company engaged in the
design, manufacture and repair of aerostructures, aircraft components,
subassemblies and systems, from September 2003 to March 2008.
Eric Rosenfeld, CPI Aero’s Chairman, commented, “We are very pleased to
have Terry join our Board. As a former senior executive of two Fortune
500 companies, Terry will contribute to our board his extensive
aerospace management, marketing and operations experience, as well as
his general business expertise developed by serving on other public
company boards. We look forward to benefiting from his counsel as we
pursue the continued growth of our business.”
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.