CPI Aero has new Brazil deal worth up to $40M
Edward J. Fred, chief executive and president, CPI Aerostructures Inc., aircraft parts, Edgewood. Total compensation, as reported, $405,918. Credit: Ed Betz, 2010
Edgewood-based CPI Aerostructures Inc.has a new longterm supply agreement to make engine inlet assemblies for a Brazilian-made business jet, the Embraer Phenom 300, CPI said Tuesday.
CPI Aero said it expects to deliver the first of the assemblies early next year. It said the contract, with Embraer S.A., of São José dos Campos, has a potential value of more than $40 million, based on the expected duration of the Phenom’s production program.
Edward Fred, president and chief executive of CPI Aero, said the jets will be sold in the defense, commercial and business aerospace markets.
"This is our first contract with a non-U.S. based customer and sets yet another milestone on CPI Aero’s path to becoming an aerostructures manufacturer with global reach," Fred said.
Photo shows Edward Fred, the CPI Aero chief executive.
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