CPI Aerostructures squeezed by defense cuts

Aug 15, 2013 | 05:43 PM | Frank Haflich

Tags  aerospace, defense cuts, sequestration, CPI Aerostructures Inc., Edward J. Fred, defense indusssssstry, profit concessions, Spirit Aerosystems Inc. Northrup Grumman

LOS ANGELES — Federal budget sequestration and other cost-cutting pressures from prime contractors are rippling down the aerospace supply chain, compelling CPI Aerostructures Inc. to absorb profit concessions while seeking similar compromises from its suppliers.

Edward J. Fred, president of the Edgewood, N.Y.-based manufacturer of structural aircraft parts, said CPI has made deals with some of its customers to insure its long-term participation on key programs, including the leading wing edge for the Gulfstream G650 twin-engine business jet CPI is building for Spirit AeroSystems Inc., Northrop Grumman Corp.’s E-2D Advanced Hawkeye surveillance aircraft and the Boeing Co. A-10 Thunderbolt attack jet.....





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