Wed, Jul 02, 2008
Will Produce 242 "Enhanced" Wings For A-10s
CPI Aerostructures, Inc. was awarded a long-term requirements
contract this week of approximately $70 million to provide various
assemblies to Boeing's Integrated Defense Systems unit in support
of its recent $2 billion award to produce up to 242 enhanced wings
for the A-10 Thunderbolt (or "Warthog") attack jet.
The first ordering period is to run until September 30, 2011,
and the contract calls for an additional option period that runs
from October 1, 2011 through September 30, 2016. The initial order
under this contract is expected to be received by CPI Aero within
the next thirty days.
"This is a very exciting day for CPI Aero," said Edward J. Fred,
CPI Aero's CEO and President. "We have been named a subcontractor
to the premier aerospace and defense company in the world, and we
continue to work on a program that we have participated in since
1995. This contract extends the life of a valuable platform that
supports our warfighters in accomplishing their mission to defend
freedom around the globe. We look forward to this outstanding
opportunity to team with The Boeing Company to enable the A-10
fleet to fly at least 20 more years.
"We are also quite excited that as this program reaches higher
rates of production, CPI Aero will create 12 to 15 internal
aerospace jobs for the Long Island region," Fred added.
"Additionally, we will look to provide subcontracting work to Long
Island-based companies whenever possible on this program, which
will further impact the Long Island job market in a positive
way."
Newsday reports Edgewood, NY-based CPI has received a number of
contracts this year, including a subcontract deal through Spirit
Aerosystems for work on Gulfstream's upcoming G650 bizjet. That
deal alone is expected to be worth over three times the company's
2007 sales of $26 million, the paper added.
CPI is one of several subcontractors on the enhanced wing
program, for over 700 A-10s.
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