CPI Aerostructures Awarded Long-term Agreement With Honda Aircraft Company for Engine Inlet Assemblies on New HondaJet Elite ...
July 10 2018 - 8:00AM
CPI Aerostructures, Inc. (“CPI Aero®” or the “Company”) (NYSE
American:CVU) today announced that it has received a long term
agreement from Honda Aircraft Company to manufacture the noise
attenuating engine inlet for its recently debuted HondaJet Elite
business jet. CPI Aero has manufactured engine inlet assemblies for
the original HondaJet aircraft since 2011.
The HondaJet Elite has a newly developed attenuating inlet
structure that lines each engine to reduce high-frequency noise and
increase cabin quietness. CPI Aero worked under the guidance of the
Honda program team to learn the new bonding processes for the
inlets. Additionally, CPI Aero facilities were upgraded to include
a new, environmentally controlled bonding room and computer
controlled ovens and other specialized equipment in order for CPI
Aero to perform these processes in-house. CPI Aero made its first
delivery of the newly designed inlets to Honda in March 2018.
“We congratulate Honda on its new HondaJet Elite aircraft and we
are proud to be a collaborative member of the HondaJet Elite team,”
said Douglas McCrosson, CPI Aero President and CEO. “The ability to
support customers’ evolving manufacturing processes with advanced
expertise founded in almost 40 years of aerospace manufacturing is
a hallmark of CPI Aero and is now on display on an aircraft that
has set a new standard in aviation. Our willingness to innovate and
pursue state-of-the-art manufacturing processes are our core
differentiators in the marketplace that continue to set us apart
from our competition.”
The HondaJet Elite aircraft was unveiled at special hangar event
on May 27, 2018 ahead of the 2018 European Business Aviation
Convention and Exhibition (EBACE) in Geneva, Switzerland. The new
upgraded twin-engine light jet HondaJet Elite represents Honda
Aircraft's continued commitment to performance, efficiency and the
environment, with its 17% range increase to 1,437 nm, noise
attenuating engine inlets, full-service galley, new paint options,
as well as additional upgraded features.
About Honda Aircraft Company
Honda Aircraft Company is a wholly owned subsidiary of American
Honda Motor Co., Inc. Founded in 2006, Honda Aircraft’s world
headquarters is located in North Carolina, the birthplace of
aviation. The challenging spirit upon which Mr. Soichiro Honda
founded Honda Motor Co., Ltd. is alive today as Honda Aircraft
fulfills one of Honda's longstanding dreams to advance human
mobility skyward.
About CPI Aero
CPI Aero is a U.S. manufacturer of structural assemblies for
fixed wing aircraft, helicopters and airborne Intelligence
Surveillance and Reconnaissance 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. 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, 2017 and Form 10-Q for the three-month
periods ended March 31, 2018.
CPI Aero® is a registered trademark of CPI Aerostructures,
Inc.
For more information, visit www.cpiaero.com, and follow us on
Twitter @CPIAERO.
Contact: |
|
|
|
Vincent Palazzolo
|
Investor Relations
Counsel: |
Chief Financial
Officer |
LHA Investor
Relations |
CPI Aero |
Sanjay M. Hurry |
(631) 586-5200 |
(212) 838-3777 |
www.cpiaero.com |
cpiaero@lhai.com |
|
www.lhai.com |
CPI Aerostructures (AMEX:CVU)
Historical Stock Chart
From May 2024 to Jun 2024
CPI Aerostructures (AMEX:CVU)
Historical Stock Chart
From Jun 2023 to Jun 2024