CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE Amex: CVU) announced today that it has received a purchase order from a leading global aerospace and defense company to produce aircraft structural assemblies, valued at approximately $3.2 million. Work on this order will commence immediately and deliveries are scheduled to occur over a twelve month period beginning in the third quarter of 2012.
CPI Aero has received six previous orders for this assembly totaling approximately $13 million from the same customer and is currently completing a contract that was awarded in May 2010.
About CPI Aero
CPI Aero is engaged in the contract production of structural aircraft parts for leading prime defense contractors, the U.S. Air Force, and other branches of the armed forces. CPI Aero also acts as a subcontractor to prime aircraft manufacturers in the production of commercial aircraft parts. In conjunction with its assembly operations, CPI Aero provides engineering, technical and program management services. Among the key programs that CPI Aero supplies are the E-2D 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, and the E-3 Sentry AWACS jet. 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, 2010 and CPI Aero’s Forms 10-Q for the quarters ended March 31, 2011, June 30, 2011 and September 30, 2011. CPI Aero is a registered trademark of CPI Aerostructures, Inc.