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Edgewood defense firm moves -- on LI

Edward J. Fred, chief executive and president, CPI

Edward J. Fred, chief executive and president, CPI Aerostructures Inc., aircraft parts, Edgewood. Total compensation, as reported, $405,918. Photo Credit: Ed Betz, 2010

CPI Aerostructures Inc., of Edgewood, has completed its move to a new, larger location, finishing the process a couple of weeks ahead of schedule, the company said.

The new site has triple the floor space.

Newsday reported the planned move back in July in a story titled, "Edgewood company moves -- across the street."

Previously at 60 Heartland Blvd., CPI said in July that it had signed an 11-year lease for 91 Heartland. Both spots are owned by the same landlord, and it had planned to finish the move by Dec. 31, the company said.

CPI makes parts for military aircraft. Its stock closed at $12.06 Monday, in the middle of its 52-week share price range of $8.78 to $15.70.

With about 171,000 square feet, the building is now the company’s assembly facility, principal offices and corporate headquarters, Edward J. Fred, CPI Aero’s president and chief executive, said in a Tuesday news release.

"The new facility, which is in close proximity to our former one, has sufficient space to accommodate anticipated growth in orders, programs and customers, and should take us well into the future as we grow revenue and profits over the coming years," Fred said.

Photo shows Edward J. Fred, the CPI chief executive.

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