CPI Aerostructures, Inc. ("CPI Aero(R)") (AMEX: CVU) today
announced it has received purchase orders from Vought Aircraft
Industries, Inc. ("Vought") totaling $1.5 million to supply parts for
the C-5A Galaxy aircraft, including metal-bonded wing panels and door
assemblies. These orders support Vought's C-5 TOP contract with the
U.S. Air Force. Deliveries are scheduled to commence in late 2008.
Edward J. Fred, CPI Aero's President & CEO stated, "With this
award, we end the first quarter of 2008 with a total of $10.6 million
in new contract awards, compared to $1.1 million for the same period
last year. $9.7 million of this year's total represents subcontract
awards for both military and commercial aircraft from major aerospace
companies, compared to $282,000 of subcontract awards for the same
period last year. This increase in subcontract awards is a result of
our continued efforts to diversify our customer base and increase the
proportion of work performed in our capacity as a subcontractor to
major prime contractors and is a testament to the quality and
timeliness of the assemblies we continue to provide to all of our
customers."
About Vought Aircraft Industries, Inc.
Vought Aircraft Industries, Inc. (www.voughtaircraft.com) is one
of the world's largest independent suppliers of aerostructures.
Headquartered in Dallas, the company designs and manufactures major
airframe structures such as wings, fuselage subassemblies, empennages,
nacelles and other components for prime manufacturers of aircraft.
Vought has annual sales of approximately $1.6 billion and about 6,000
employees in nine U.S. locations.
About CPI Aero(R)
CPI Aero(R) is engaged in the contract production of structural
aircraft parts for the U.S. Air Force, other branches of the armed
forces and leading prime defense contractors. In conjunction with its
assembly operations, CPI Aero(R) provides engineering, technical and
program management services. Among the key programs that CPI Aero(R)
supplies are the C-5A Galaxy cargo jet, the T-38 Talon jet trainer,
the A-10 Thunderbolt attack jet, the E-3 Sentry AWACS jet, UH-60 Black
Hawk helicopter, the Sikorsky S-92 helicopter, and the MH-60S mine
countermeasure helicopter.
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, 2007.
CPI Aero(R) is a registered trademark of CPI Aerostructures, Inc.
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