CPI Aerostructures, Inc. (NYSE MKT: CVU) made its first delivery to Lockheed Martin Company (NYSE: LMT) under a multi-year contract to manufacture lock assemblies for the F-35A Conventional Takeoff and Landing (´CTOL´) variant aircraft, the company said.
In June 2015, CPI Aero announced a multi-million dollar contract with Lockheed Martin´s Aeronautics division to provide four different lock assemblies for the arresting gear door on 289 F-35A CTOL aircraft, with a single option for an additional 459 F-35A CTOL aircraft.
Douglas McCrosson, President and CEO of CPI Aero, stated, “Our first delivery for the F-35 program is a significant achievement for CPI Aero. In addition to being responsible for manufacturing the locks, this milestone required CPI Aero, for the first time, to develop functional acceptance test procedures and design specialized testing equipment to validate that the lock assemblies meet the required performance characteristics.”
CPI Aero is a US manufacturer of structural assemblies and value-added kits for fixed wing and rotary wing aircraft in both the commercial aerospace and defense markets. The company also manufactures pod-based, airborne avionics systems, is either a Tier 1 supplier to aircraft OEMs or a Tier 2 subcontractor to major Tier 1 manufacturers, and is a prime contractor to the US 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.