EDGEWOOD, N.Y., Dec. 15, 2020 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE American: CVU) announced that it is participating in Phase I of a Cooperative Research and Development Agreement that Wilder Systems entered into with the U.S. Army. The objective of the project is to demonstrate the capability of Wilder’s Agile Manufacturing Robot, from repetitive drilling to complex mixed-stack drilling operations, with improved quality and throughput over more manually-intensive methods. In collaborating with Wilder Systems, CPI Aero is procuring and providing eight unique material coupon stacks representative of current aircraft structure. Materials include Carbon Fiber, Titanium, Aluminum, Corrosion Resistant Steel and Inconel.
“CPI Aero is committed to the deployment of advanced manufacturing technologies that hold the promise to improve the quality, productivity and cost effectiveness of our aerostructures programs with minimal disruption and capital investment. We are excited to see where this research leads and how the technology may be leveraged both across current programs and for bid submissions. If the project moves to Phase 2, Wilder and CPI Aero will install an Agile Manufacturing Robot into a work cell at CPI Aero for demonstration in a production environment. We look forward to collaborating with Wilder Systems on this project,” said Douglas McCrosson, CPI Aero’s CEO & President.
“The Wilder Systems team is excited to work with CPI Aero to bring our advanced drilling capability to market. CPI manufactures a diverse range of aerospace assemblies under one roof. Cooperative research and development with CPI Aero provides Wilder Systems the unique opportunity to demonstrate our robotic system's effectiveness in both conventional and mixed material drilling applications,” stated Will Wilder, CEO/Principal of Wilder Systems.
About Wilder Systems
Wilder Systems is an industrial services company that delivers Robots as a Service to execute complex aerospace processes. We are leading the way towards a "Lights Out" future where aircraft manufacturing and maintenance is conducted by modular autonomous robots. Wilder Systems' customers include major Aerospace and Defense OEM's, Tier 1 suppliers, and the US Air Force. Service offerings leverage mobile robots for precision drilling, defastening, airplane washing and more. Wilder Systems is headquartered in Austin, Texas.
About CPI Aero
CPI Aero is a U.S. manufacturer of structural assemblies for fixed wing aircraft, helicopters and airborne Intelligence Surveillance and Reconnaissance and Electronic Warfare pod systems, primarily for national security markets. Within the global aerostructure supply chain, CPI Aero is either a Tier 1 supplier to aircraft OEMs or a Tier 2 subcontractor to major Tier 1 manufacturers. CPI also is a prime contractor to the U.S. Department of Defense, primarily the Air Force. In conjunction with its assembly operations, CPI Aero provides engineering, program management, supply chain management, and MRO services. CPI Aero is included in the Russell Microcap® Index.
The above statements include forward looking statements that involve risks and uncertainties, which are described from time to time in CPI Aero's SEC reports, including CPI Aero's Form 10-K for the year ended December 31, 2019 and Forms 10-Q for the three-month period ended March 31, 2020, and June 30, 2020.
CPI Aero® is a registered trademark of CPI Aerostructures, Inc. For more information, visit www.cpiaero.com, and follow us on Twitter @CPIAERO.
Contact:
Investor Relations Counsel:
LHA Investor Relations
Jody Burfening
(212) 838-3777
cpiaero@lhai.com
www.lhai.com