CPI Aerostructures awarded long-term agreement with Honda Aircraft Company

CPI Aerostructures, Inc. (“CPI Aero®” or the “Company”) (NYSE American: CVU) today announced that it has received a long term agreement from Honda Aircraft Company to manufacture the noise attenuating engine inlet for its recently debuted HondaJet Elite business jet. CPI Aero has manufactured engine inlet assemblies for the original HondaJet aircraft since 2011.
The HondaJet Elite has a newly developed attenuating inlet structure that lines each engine to reduce high-frequency noise and increase cabin quietness. CPI Aero worked under the guidance of the Honda program team to learn the new bonding processes for the inlets. Additionally, CPI Aero facilities were upgraded to include a new, environmentally controlled bonding room and computer controlled ovens and other specialized equipment in order for CPI Aero to perform these processes in-house. CPI Aero made its first delivery of the newly designed inlets to Honda in March 2018.
“We congratulate Honda on its new HondaJet Elite aircraft and we are proud to be a collaborative member of the HondaJet Elite team,” said Douglas McCrosson, CPI Aero President and CEO. “The ability to support customers’ evolving manufacturing processes with advanced expertise founded in almost 40 years of aerospace manufacturing is a hallmark of CPI Aero and is now on display on an aircraft that has set a new standard in aviation. Our willingness to innovate and pursue state-of-the-art manufacturing processes are our core differentiators in the marketplace that continue to set us apart from our competition.”
The HondaJet Elite aircraft was unveiled at special hangar event on May 27, 2018 ahead of the 2018 European Business Aviation Convention and Exhibition (EBACE) in Geneva, Switzerland. The new upgraded twin-engine light jet HondaJet Elite represents Honda Aircraft’s continued commitment to performance, efficiency and the environment, with its 17% range increase to 1,437 nm, noise attenuating engine inlets, full-service galley, new paint options, as well as additional upgraded features.