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CPI Aerostructures Inc . (NYSE American:NYSE:CVU), a manufacturer in the aircraft parts industry with annual revenue of $81 million and market capitalization of $44 million, has entered into an amendment to extend its lease agreement for its Edgewood, New York, facility, the company disclosed in a recent SEC filing.
The amendment, effective as of Monday, April 15, 2025, extends CPI Aerostructures’ lease with Heartland Boys II LP until April 30, 2031. This extension ensures the company’s continued occupancy of the premises at 91 Heartland Boulevard for an additional five years beyond the original lease term.
Under the terms of the new agreement, the monthly base rent payable by CPI Aerostructures will be subject to annual increases over the five-year period. Starting on May 1, 2026, the rent will begin at $181,782.03 and will incrementally rise each year, reaching $204,597.28 by May 1, 2030, through the end of the lease period.
This strategic move by CPI Aerostructures secures a key operational base for the company and provides a fixed cost structure for the facility over the next several years. The company maintains strong financial health with a current ratio of 1.65, indicating solid ability to meet short-term obligations. The specifics of the lease amendment were outlined in an exhibit attached to the 8-K form filed by the company.
The financial commitment represented by the lease extension demonstrates CPI Aerostructures’ long-term planning for its manufacturing operations in New York. According to InvestingPro analysis, the company maintains a GOOD overall financial health score and has remained profitable over the last twelve months, with EBITDA of $7.16 million. The company, with a standard industrial classification in aircraft part and auxiliary equipment, operates under the organization name of manufacturing, as per the SEC filing.
This report is based on statements from a press release and information contained in a Form 8-K filed by CPI Aerostructures with the Securities and Exchange Commission. The details of the lease amendment are available in the exhibit attached to the form, which substantiates the company’s commitment to its current business location and operational infrastructure.
In other recent news, CPI Aerostructures, Inc. has announced significant developments in its business operations. The company reported receiving orders worth $7 million for the overhaul and repair of stabilator assemblies for the Sikorsky MH-60 SEAHAWK helicopter. These orders are part of a larger indefinite delivery indefinite quantity (IDIQ) contract with Sikorsky, which highlights CPI Aero’s expertise in airframe structural assembly and maintenance. Additionally, CPI Aerostructures secured contracts valued at $4.3 million for the production of gunner window assemblies for the UH-60M Black Hawk helicopter. This multi-year agreement further strengthens CPI Aero’s long-standing relationship with Sikorsky, having delivered over 6,000 units of these assemblies in the past. The contracts are part of an IDIQ agreement, indicating a flexible and ongoing partnership with the U.S. military. CPI Aero operates as a Tier 1 supplier to aircraft OEMs and a prime contractor to the U.S. Department of Defense. These recent developments underscore CPI Aero’s strategic growth and its commitment to supporting military aviation operations.
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