CPI Aerostructures, Inc. and MST Manufacturing Sign Long Term Agreement
CPI Aerostructures, Inc. (NYSE American: CVU) has signed a Long Term Agreement (LTA) with MST Manufacturing for component supply in support of its aerostructures production. The LTA, signed during the Farnborough International Air Show, extends through the end of 2027. This agreement strengthens the existing relationship between the two companies and provides a foundation for potential additional business.
CPI Aero, a U.S. manufacturer of structural assemblies for various aircraft and airborne systems, serves as a Tier 1 or Tier 2 supplier in the global aerostructure supply chain. MST Manufacturing, based in Claremore, Oklahoma, specializes in complex CNC machining and fabrication, operating over 50 CNC machines and offering various manufacturing services.
CPI Aerostrutture, Inc. (NYSE American: CVU) ha firmato un Contratto a Lungo Termine (LTA) con MST Manufacturing per la fornitura di componenti a supporto della produzione delle sue aerostrutture. L'LTA, firmato durante il Farnborough International Air Show, si estende fino alla fine del 2027. Questo accordo rafforza la relazione esistente tra le due aziende e fornisce una base per potenziali affari aggiuntivi.
CPI Aero, un produttore statunitense di assemblaggi strutturali per vari aeromobili e sistemi aerei, funge da fornitore di livello 1 o 2 nella catena di fornitura globale delle aerostrutture. MST Manufacturing, con sede a Claremore, Oklahoma, è specializzata nella lavorazione e fabbricazione CNC complessa, operando oltre 50 macchine CNC e offrendo vari servizi di produzione.
CPI Aerostructures, Inc. (NYSE American: CVU) ha firmado un Acuerdo a Largo Plazo (LTA) con MST Manufacturing para el suministro de componentes en apoyo a su producción de aerostructuras. El LTA, firmado durante el Farnborough International Air Show, se extenderá hasta finales de 2027. Este acuerdo fortalece la relación existente entre ambas compañías y proporciona una base para posibles negocios adicionales.
CPI Aero, un fabricante estadounidense de ensamblajes estructurales para diversas aeronaves y sistemas aéreos, actúa como proveedor de Nivel 1 o 2 en la cadena de suministro global de aerostructuras. MST Manufacturing, con sede en Claremore, Oklahoma, se especializa en mecanizado y fabricación CNC compleja, operando más de 50 máquinas CNC y ofreciendo varios servicios de fabricación.
CPI Aerostructures, Inc. (NYSE American: CVU)가 MST Manufacturing과 에어로스트럭처 생산을 지원하기 위한 구성 요소 공급을 위한 장기 계약(LTA)을 체결했습니다. Farnborough International Air Show에서 서명된 이 LTA는 2027년 말까지 유효합니다. 이 계약은 두 회사 간의 기존 관계를 강화하고 추가 사업 가능성의 기초가 됩니다.
CPI Aero는 다양한 항공기 및 공중 시스템에 대한 구조 조립체를 제조하는 미국 회사로, 글로벌 에어로스트럭처 공급망에서 Tier 1 또는 Tier 2 공급업체 역할을 하고 있습니다. Oklahoma주 Claremore에 본사를 둔 MST Manufacturing은 복잡한 CNC 가공 및 제작에 전문화되어 있으며, 50대 이상의 CNC 기계를 운영하고 다양한 제조 서비스를 제공합니다.
CPI Aerostructures, Inc. (NYSE American: CVU) a signé un Contrat à Long Terme (LTA) avec MST Manufacturing pour la fourniture de composants afin de soutenir sa production d'aerostructures. Le LTA, signé lors du Farnborough International Air Show, s'étend jusqu'à la fin de 2027. Cet accord renforce la relation existante entre les deux entreprises et constitue une base pour d'éventuelles affaires supplémentaires.
CPI Aero, un fabricant américain d'assemblages structuraux pour divers aéronefs et systèmes aériens, agit en tant que fournisseur de niveau 1 ou 2 dans la chaîne d'approvisionnement mondiale des aerostructures. MST Manufacturing, basé à Claremore, Oklahoma, se spécialise dans l'usinage et la fabrication CNC complexes, exploitant plus de 50 machines CNC et offrant divers services de fabrication.
CPI Aerostructures, Inc. (NYSE American: CVU) hat einen Langzeitvertrag (LTA) mit MST Manufacturing für die Lieferung von Komponenten zur Unterstützung seiner Aerostrukturen-Produktion unterzeichnet. Der während der Farnborough International Air Show unterzeichnete LTA läuft bis Ende 2027. Diese Vereinbarung stärkt die bestehende Beziehung zwischen den beiden Unternehmen und bietet eine Grundlage für potenzielle zusätzliche Geschäftsmöglichkeiten.
CPI Aero, ein US-Hersteller von strukturellen Baugruppen für verschiedene Flugzeuge und luftgestützte Systeme, fungiert als Tier-1- oder Tier-2-Zulieferer in der globalen Aerostrukturen-Lieferkette. MST Manufacturing mit Sitz in Claremore, Oklahoma, ist auf komplexe CNC-Bearbeitung und -Fertigung spezialisiert und betreibt über 50 CNC-Maschinen, während sie verschiedene Fertigungsdienstleistungen anbietet.
- Secured long-term supply agreement through 2027
- Strengthened relationship with critical supplier MST Manufacturing
- Potential for additional business opportunities with MST
- None.
FARNBOROUGH, United Kingdom, July 22, 2024 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. (“CPI Aero®” or the “Company”) (NYSE American: CVU) announced today that it has signed a Long Term Agreement (“LTA”) with MST Manufacturing (“MST”) during the international air show in Farnborough, UK, for the supply of components in support of its aerostructures production. This LTA will cover CPI Aero’s requirements from MST through the end of calendar year 2027.
“We’ve had a strong relationship with MST and, are excited about this LTA, which is a reflection of their performance as a critical supplier to CPI Aero, and provides a foundation for additional business,” stated Dorith Hakim, president and CEO of CPI Aero.
Kenneth Statton, CEO & founder of MST added, “We value our relationship with CPI Aero and are excited about this next chapter in our journey together. MST and CPI Aero make a good team and I am confident that we will be able to support them with this LTA and much more for years to come.”
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 Aero 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.
About MST Manufacturing: MST is located on in Claremore, Oklahoma with over 65,000 square feet of manufacturing space and more than 80 team members. With AS9100, ISO9001 and ITAR certifications, MST is propelling itself to be one of Oklahoma’s premier and most respected complex CNC machining and fabrication companies. MST operates over 50 CNC machines, sheet metal forming machines, waterjets and hot-joggling machines as well as a host of support services from engineering, large capacity CMM’s to multiple levels of CAD/CAM software and much more. MST offers machining services up to 150” which includes 5-axis milling and multi-axis turning as well as complex sheet metal forming utilizing rubber head presses, bladder presses and sheet metal brakes.
Forward-looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included or incorporated in this press release are forward-looking statements. The Company does not guarantee that it will actually achieve the plans, intentions or expectations disclosed in its forward-looking statements and you should not place undue reliance on the Company’s forward-looking statements.
Forward-looking statements involve risks and uncertainties, and actual results could vary materially from these forward-looking statements. There are a number of important factors that could cause the Company’s actual results to differ materially from those indicated or implied by its forward-looking statements, including those important factors set forth under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K for the period ended December 31, 2023 filed with the Securities and Exchange Commission. Although the Company may elect to do so at some point in the future, the Company does not assume any obligation to update any forward-looking statements and it disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
CPI Aero® is a registered trademark of CPI Aerostructures, Inc. For more information, visit www.cpiaero.com, and follow us on Twitter @CPIAERO.
| Contacts: | |
| Investor Relations Counsel | CPI Aerostructures, Inc. |
| LHA Investor Relations | Andrew L. Davis |
| Jody Burfening | Chief Financial Officer |
| (212) 838-3777 | (631) 586-5200 |
| cpiaero@lhai.com | adavis@cpiaero.com |
| www.cpiaero.com |
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