CPI Aero signs long-term agreement with MST Manufacturing through 2028

PARIS - CPI Aerostructures, Inc. (NYSE American: CVU), a $39.65 million market cap aerospace manufacturer, announced Tuesday it has signed a new Long-Term Agreement (LTA) with MST Manufacturing for the supply of components supporting its aerostructures production through the end of 2028. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 1.57, despite its shares being down nearly 25% year-to-date.

The agreement, signed during the international air show in Paris, marks the second LTA between the companies, according to a press release statement.

"This second LTA reflects their performance as a critical supplier to CPI Aero, and rewards them for supporting our new programs," said Dorith Hakim, president and CEO of 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. The company serves as either a Tier 1 supplier to aircraft OEMs or a Tier 2 subcontractor to major Tier 1 manufacturers, while also working as a prime contractor to the U.S. Department of Defense. With annual revenue of $77.4 million and positive earnings in the last twelve months, InvestingPro analysis reveals the company maintains a healthy financial position with several positive indicators. Subscribers can access 12+ additional exclusive ProTips and detailed financial metrics.

MST Manufacturing, based in Claremore, Oklahoma, operates over 60 CNC machines and offers services including 5-axis milling, multi-axis turning, and complex sheet metal forming. The company maintains AS9100, ISO9001 and ITAR certifications.

Kenneth Statton, CEO and founder of MST, stated that CPI Aero "continues to be a strong and reliable part of our business model."

The companies did not disclose the financial terms of the agreement in the announcement.

In other recent news, CPI Aerostructures Inc. has made several notable announcements. The company disclosed a salary increase for its CEO, Dorith Hakim, raising her annual base salary by 4.9% to $405,000, effective May 1, 2025. This update was part of a Form 8-K filing with the Securities and Exchange Commission, emphasizing the company’s alignment with industry compensation standards. Additionally, CPI Aerostructures has appointed CBIZ CPAs as its new independent registered public accounting firm after Marcum LLP resigned following the acquisition of its attest assets by CBIZ. The transition was amicable, with no disagreements over accounting principles or practices reported. Furthermore, CPI Aerostructures has extended its lease for its Edgewood, New York, facility through April 2031, securing a stable operational base with annual rent increases planned. This strategic decision is outlined in a recent SEC filing, highlighting the company’s commitment to maintaining its manufacturing operations at the current location. These developments reflect CPI Aerostructures’ ongoing efforts to solidify its financial and operational strategies.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.