Air Industries Group announced it has secured a long-term contract valued at more than $33.0 million. This agreement is for the manufacture and supply of complex components for the CH-53K King Stallion helicopter program.
The seven-year agreement strengthens Air Industries' role in supporting one of the U.S. Department of Defense’s highest-priority procurement programs. The CH-53K helicopter is critical for deploying and supporting troops in island and coastal environments.
CEO Lou Melluzzo stated that this contract will enable a significant ramp-up in production, which is expected to increase revenue and enhance profitability by increasing manufacturing hours and absorbing overhead costs. The company plans to invest in new equipment to support the projected volume of product, creating additional capacity and efficiency at its Sterling Engineering Division in Connecticut.
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