EDGEWOOD, N.Y.--(BUSINESS WIRE)--
CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE MKT:CVU) today announced
that it has received a $10.59 million purchase order from Northrop
Grumman Corporation (NYSE:NOC) for Outer Wing Panel (OWP) kits for E-2D
Advanced Hawkeye, full rate production Lot 2 aircraft.
CPI Aero has produced OWP kits for the E-2D Advanced Hawkeye and C-2A
Greyhound aircraft, which share a common wing design, since June 2008.
CPI Aero has received orders for OWP kits totaling approximately $66.3
million.
This award was included in the previously announced total of $101.9
million in new business awards from all customers as of December 3, 2013.
About Northrop Grumman Corporation
Northrop Grumman is a leading global security company providing
innovative systems, products and solutions in unmanned systems, cyber,
C4ISR, and logistics and modernization to government and commercial
customers worldwide. Please visit www.northropgrumman.com
for more information.
About CPI Aero
CPI Aero is a U.S. manufacturer of structural aircraft parts for fixed
wing aircraft and helicopters in both the commercial and defense
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. Among the key programs that
CPI Aero supplies are the E-2D Advanced Hawkeye surveillance aircraft,
the A-10 Thunderbolt attack jet, the Gulfstream G650, the UH-60 BLACK
HAWK® helicopter, the S-92® helicopter, the MH-60S mine countermeasure
helicopter, AH-1Z ZULU attack helicopter, the HondaJet-Advanced Light
Jet, the MH-53 and CH-53 variant helicopters, the C-5A Galaxy cargo jet,
the E-3 Sentry AWACS jet, the Embraer Phenom 300 light business jet and
the New Cessna Citation X. 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, 2012 and Forms 10-Q for the quarters ended March 31, 2013,
June 30, 2013 and September 30, 2013.
CPI Aero® is a registered trademark of CPI Aerostructures,
Inc.
CPI Aero
Vincent Palazzolo, 631-586-5200
Chief Financial
Officer
www.cpiaero.com
or
The
Equity Group Inc.
Lena Cati, 212-836-9611
Investor Relations
Counsel
www.theequitygroup.com
Source: CPI Aerostructures, Inc.