CPI wins MRO contract for tow hook assemblies used on Navy countermeasures aircraft

CPI Aerostructures, Inc. (NYSE MKT: CVU) has received a contract from Sikorsky, a Lockheed Martin Company (NYSE: LMT), to provide maintenance repair and overhaul services for tow hook assemblies used on the MH-53E Sea Dragon, the US Navy´s primary airborne mine countermeasures aircraft,.

CPI Aero will tear down, inspect, overhaul, and repair an initial quantity of 15 tow hook assemblies for evaluation and expects to receive additional quantities in the future. The cumulative value of the initial 15 repair orders could approach USD 1m, depending on the level of repair that is required.

CPI Aero has previously manufactured new tow hook assemblies under a spares contract awarded by Sikorsky in 2010. The tow hook assembly, a complex electromechanical device, consists of precision machined parts, springs, and linkage mechanisms that lock the cable in place during towing operations.

Bethesda, Maryland-based Lockheed Martin is a global security and aerospace company that employs approximately 97,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

CPI Aero is a US 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. The company is also 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.