Year-to-date orders from all customers reaches
all-time high of $101.9 million
EDGEWOOD, N.Y.--(BUSINESS WIRE)--
CPI Aerostructures, Inc. ("CPI Aero®") (NYSE MKT:CVU) today announced
that it has received purchase orders totaling more than $15 million from
the Boeing Defense, Space & Security unit of The Boeing Company
("Boeing") for assemblies for the A-10 aircraft. These represent
follow-on orders for CPI Aero’s previously announced long-term
requirements contract to support Boeing's A-10 Wing Replacement Program
(WRP). The A-10 WRP multi-million dollar contract between Boeing and CPI
Aero includes the production of a variety of structural assemblies for
up to 242 enhanced wings. Including these orders, CPI Aero has received
firm requirements for 167 ship sets for the A-10 WRP program.
Including these orders, year-to-date contract awards from all customers
total to a record of approximately $101.9 million, compared to
approximately $69.9 million through November 30, 2012. Of note, 2013
year-to-date total awards is approximately $18 million higher than the
previous record of $83.6 million in new contract awards reported in
calendar year 2011.
About Boeing Defense, Space & Security
A unit of The Boeing Company, Boeing
Defense, Space & Security is one of the world's largest defense,
space and security businesses specializing in innovative and
capabilities-driven customer solutions, and the world’s largest and most
versatile manufacturer of military aircraft. Headquartered in St. Louis,
Boeing Defense, Space & Security is a $33 billion business with 59,000
employees worldwide.
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
Chief Financial Officer
631-586-5200
www.cpiaero.com
or
Investor
Relations Counsel
The Equity Group Inc.
Lena Cati, 212-836-9611
www.theequitygroup.com
Source: CPI Aerostructures, Inc.