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CPI Aerostructures awarded seven-year contract by Cessna

CPI Aerostructures (CVU) has been awarded a contract by Cessna Aircraft Company, a subsidiary of Textron (TXT), to supply structural assemblies, predominately wing spars, for Cessna’s flagship aircraft, the newly-relaunched Cessna Citation X. CPI Aero estimates the value of the contract, over a seven year period, to be approximately $41M. The intial delivery order is for approximately $5M.