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91 Heartland Boulevard Edgewood, NY 11717
Tel: 631-586-5200 Email: [email protected] Web: www.cpiaero.com Facebook: www.facebook.com/CPIAero Twitter: www.twitter.com/CPIAero
NYSE American: CVU
Leading Edge
BUSINESS News
Message from Douglas McCrosson, President and CEO
Back to the Future: Refocusing on Our Defense Industry Roots
This past March marked the end of my third year as President and CEO of CPI Aero. Over this me, the company has executed on a strategy to priori ze our defense business and place greater sales emphasis
on mul ‐year opportuni es on military pla orms that will be mainstays of na onal defense for decades. I am very proud that over this period of me we have secured awards from Northrop Grumman on the E‐2D Advanced Hawkeye, Lockheed Mar n on the F‐35 Joint Strike Fighter, Sikorsky on the UH‐60M Black Hawk, and Bell Helicopter on the AH‐1Z Viper. We also have secured recent contracts to manufacture structural pod assemblies for a variety of ISR and EW systems including the DB‐110 and TacSAR reconnaissance pods from United Technologies, the ALMDS laser pod from Northrop Grumman and the Next Genera on Jammer, Increment 1
electronic warfare pod from Raytheon. We have also won major prime contracts with the U.S. Government for structural components and kits to support the F‐16 and T‐38. Defense is in our DNA. Combined with our superior program execu on and excep onal customer service, we have proven that we are a best‐in‐class, value‐added supplier in the aerospace and defense marketplace.
While we have purposely sought to strengthen our defense business, we maintain commi ed to the civilian market and have achieved some recent success in this area as well. In late 2016, we secured an agreement with Embraer of Brazil for their E175‐E2 regional jet ‐ our first commercial airliner contract in more than two decades. And most recently, we announced in June a new five‐year contract with Sikorsky to supply structural kits for the S‐92 civilian helicopter.
We are grateful to our customers for trus ng CPI Aero to manufacture their flight cri cal and complex structures and systems. We are equally thankful for our
excep onal suppliers, who are true partners with us to deliver the highest quality products, on me, at affordable prices to our mutual customers.
One of my goals is to share more informa on about our company with our customers, suppliers and other stakeholders. We created this newsle er as a way of keeping you informed about the many exci ng things happening here at CPI Aero. We selected the tle “Leading Edge” not just because we manufacture wing leading edges for some of the world’s best aircra , but also to highlight the manufacturing processes that we feel keep us on the leading edge of aerospace assembly. In this edi on, we showcase our use of 3‐D prin ng and our investment in a new, world class metal polishing cell that gives the Gulfstream G‐650 wing its trademark mirror finish. We also have joined social media, where you will find us on Facebook, Twi er, and LinkedIn. We hope that you will find these addi onal means of communica on helpful as we con nue to build on our future together.
New Contracts Fuel Growth in CPI Aero’s AeroSystems Segment At the recent Paris Air Show in June,
CPI Aero announced it had been
awarded a new contract on another
pod structure program—UTC
Aerospace’s TacSAR reconnaissance
system–adding to its growing
aerosystems por olio. For this
development contract, CPI will provide engineering and design
support for the TacSAR pod structure. This latest contract comes on
the heels of last year’s Farnborough announcement when CPI was
awarded a new contract by Raytheon Company to manufacture the
structural pod housings for the Engineering and Manufacturing
development phase of the Next Genera on Jammer Increment 1
pod. This contract was awarded to CPI a er Raytheon received a sole
source contract from the US Navy to develop the high‐tech jamming
pod to replace the ALQ‐99 system currently installed on the US
Navy’s EA‐18G Growler aircra . This contract win was significant,
most notably for CPI’s ability to earn the confidence and trust of
new customer Raytheon—a world leader in electronic warfare
for more than 50 years. Later in the year (September 2016),
Raytheon again awarded CPI Aero with another contract—this
me to manufacture air management system (AMS) door and
duct assemblies for the same program. Deliveries on the
Raytheon pods are expected to begin later this year.
The addi on of Raytheon as a new customer in 2016 as well as
CPI’s recent selec on by UTC on their newest pod structure
speaks to CPI Aero’s goal to priori ze and strengthen our
defense business and solidify our reputa on and exper se as a
premier manufacturer of reconnaissance, radar and laser
system pods. Along with Raytheon’s Next Genera on jammer
pod and UTC’s TacSAR pod programs, CPI also manufactures
and supplies UTC Aerospace Systems’ DB‐110 reconnaissance
pod and Northrop Grumman’s ALMDS mine detec ng pod.
Sharing Our Latest News
August 2017 Issue 1
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CPI Aero recently added Carey Bond to its Board of
Directors. Mr. Bond spent 17 years at Bell Helicopter
Textron, rising through the ranks to Vice President of
Worldwide Customer Support and Services. Under his
leadership, Bell was able to formulate and execute global
strategies that increased customer sa sfac on,
strengthened rela onships and significantly grew their
service business both organically and by acquisi on. Mr.
Bond then joined Sikorsky where he first served as Vice
President Strategy to include M&A and Chief Marke ng
Officer, which encompassed both Military and Commercial product
lines. He also served for several years as President of Sikorsky’s
Commercial Systems & Services before re ring in 2015. Some of his
major accomplishments at Sikorsky include overseeing Sikorsky's
New Director Joins CPI Aero Board Former Sikorsky Execu ve Brings Addi onal Corporate and Aerospace Industry Exper se
successful acquisi on and integra on of Keystone
Helicopter Corp. in Pennsylvania and PZL Mielec in
Poland. He also orchestrated Sikorsky's increased
par cipa on in the Chinese aerospace market by
establishing agreements with China's AVIC II. In addi on
to Mr. Bond’s extensive work experience in the
aerospace industry he has also served on the boards of
several avia on industry boards.
"A strategist with a strong opera ons background, Carey
adds vast industry knowledge and business acumen that
complements our board’s exper se and experience," said Eric
Rosenfeld, CPI Aero’s Chairman of the Board. “I am thrilled to
welcome him to the board and I look forward to working with him.”
Mr. Carey Bond
CPI Aero featured in Addi ve Manufacturing Magazine Innova ve 3D Prin ng Solu ons for Assembly Tooling Recognized
In recent years, one of CPI Aero’s goals was to find areas where we could introduce
and incorporate the use of technology and automa on within the manufacturing
cycle. As a small business, this decision would come with very specific requirements.
The May 2017 issue of Addi ve Manufacturing Magazine focused on tooling, and one
of the feature ar cles focused on CPI Aero’s implementa on of a 3D printer to
address and resolve custom tooling needs and issues. The ar cle focused on the
en re process—from start to finish– on how CPI
iden fied the issues, defined the requirements,
and ul mately has been able to quickly and
seamlessly add capacity to bypass the tradi onal tooling department on many tools, bringing more
of our tooling work in‐house, and reducing the me and cost of crea ng custom tooling. The link to
the ar cle can be found on our Facebook page: h ps://www.facebook.com/CPIAero.
MRO Contract for Sikorsky MH‐53E Components
Since 2010, CPI Aero has been manufacturing tow hook assemblies
used on the MH‐53E Sea Dragon for Sikorsky Aircra . In May
Sikorsky awarded the company a new contract to provide
maintenance, repair and overhaul services on these assemblies. The
tow hook assembly is a complex electromechanical device and
consists of precision machined parts, springs, and linkage
mechanisms that lock the cable in place during towing opera ons.
The contract specifies that CPI will tear
down, inspect, overhaul and repair an
ini al quan ty of 15 assemblies with
an expecta on of receiving addi onal
quan es in the future.
CORPORATE News
CPI Delivers First F‐35 Lock Assemblies to Lockheed
Mar n
This May CPI Aero made its first delivery to LMCO of lock
assemblies for the F‐35 fighter jets—a contract that LMCO
awarded to CPI in July, 2015. Not only was CPI responsible for
manufacturing the locks, this first delivery milestone required CPI
Aero, for the first me, to develop func onal acceptance test
procedures and design specialized tes ng equipment to validate
that the lock assemblies meet the required performance
characteris cs. The contract with LMCO states that CPI will provide
these lock assemblies for 289 aircra for three years, with an
op on for an addi onal three years which would allow CPI to
manufacture these lock assemblies for 459 more F‐35 aircra .
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MANUFACTURING News
New, permanent Finishing booths were built in the
shop and have been in use since January. The new,
walled structure can be found in the same loca on as
the previous curtained booths. This new structure now
provides 784 square feet of workspace, compared to
the 576 square feet of workspace in the previous
booths.
Four individual bays are separated by
curtains, which can be removed to
accommodate work on larger structures.
Powerful fans and A/C units built into
each bay provide ven la on for the en re
structure, helping to remove par cles and
maintaining proper climate control.
Each bay offers nearly 200 2 of working space with plen ful, built‐in overhead ligh ng to provide
ample illumina on and an improved working environment for the Finishing and Polishing staff.
New, Upgraded Finishing Booths
More Workspace and Improved Capabili es
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We Appreciate
Our Outstanding Employees
CPI Aero on Social Media
h ps://www.facebook.com/cpiaero
h ps://www.twi er.com/cpiaero
Company page: CPI Aerostructures
Led our Honda
manufacturing
team to meet an
aggressive schedule
for the month.
Will Joe
Bryan
In recogni on of his
a en on to detail
and pride in his
work.
Santos
Instrumental in the start‐up and support of our new F‐35 Lock Mechanism job.
Assumed extra responsibili es in support of a new customer and program.
Chris Impressive wo
rk
ethic and quality of
work from recent
Appren ce Program
graduate.
Meet our most recent Employee of the Month winners at CPI Aero
EMPLOYEE News