Air Industries Announces New Long Term Agreement With Sikorsky Valued At $15M

Bay Shore, NY - Air Industries Group, Inc. recently announced that its wholly-owned subsidiary, Air Industries Machining Corp. (AIM), has received a $15M order from Sikorsky Aircraft Corporation. The award is in the form of a long term general purchase agreement spanning five years. This agreement calls for AIM to manufacture subassemblies and parts such as mixer assemblies, pedal assemblies and instrument panels relating to Sikorsky's BLACK HAWK helicopter program. AIM continues to be one of the largest suppliers of flight safety components to Sikorsky for BLACK HAWK helicopters.

The long term agreement announced today represents additional requirements over and above the $50 million in long term general purchase agreements between Sikorsky and Air Industries that were announced in March 2007 for the BLACK HAWK helicopter program as well as other order announcements made subsequent to that time.

"We are very pleased to have received our latest long term general purchase agreement from Sikorsky. This brings the total value of all contracts from Sikorsky announced this year to over $75 million," said Peter Rettaliata, Chief Executive Office of Air Industries Group. "Air Industries continues to be the supplier of choice for long term work share relating to the BLACK HAWK program, a helicopter platform which remains the primary mode of transport for military operations. The continuance of our important relationship with Sikorsky provides substantial operational strength and financial visibility, and serves as a complement to the growth we have experienced in other areas of our manufacturing business as well as in our raw materials and welding and fabrication operations. Through both organic initiatives and acquisitions, we expect continued growth in all facets of Air Industries Group."

SOURCE: Air Industries Group, Inc.