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CPI Aero Awarded $4 Million Order for E-2D Seats from Northrop Grumman Corporation

Dépèche transmise le 22 février 2011 par Business Wire

CPI Aero Awarded $4 Million Order for E-2D Seats from Northrop Grumman Corporation

CPI Aero Awarded $4 Million Order for E-2D Seats from Northrop Grumman Corporation

EDGEWOOD, N.Y.--(BUSINESS WIRE)--CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE Amex: CVU) announced today it has received a purchase order to manufacture seats for the E-2D Advanced Hawkeye aircraft from Northrop Grumman Corporation (NYSE: NOC) valued at approximately $4 million. There are a total of five seats in three different designs in an E-2D; one for the pilot, one for the co-pilot and three seats for the crew members. The period of performance is through 2013 with first delivery scheduled for early 2012.

Edward J. Fred, CPI Aero’s CEO & President stated, “We could not be more pleased to be awarded yet another contract to support Northrop Grumman and the E-2D Advanced Hawkeye. In combination with the $27.6 million contract for E-2D Outer Wing Panel Kits announced in June 2010, this new order further establishes CPI Aero as an important supply chain partner for Northrop Grumman and the U.S. Navy well into the future.”

About Northrop Grumman Corporation

Northrop Grumman Corporation is a leading global security company whose 120,000 employees provide innovative systems, products, and solutions in aerospace, electronics, information systems, shipbuilding and technical services to government and commercial customers worldwide.

About CPI Aero

CPI Aero is engaged in the contract production of structural and other aircraft parts for leading prime defense contractors, the U.S. Air Force, and other branches of the armed forces. 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 Advanced Hawkeye surveillance aircraft, the UH-60 BLACK HAWK helicopter, the S-92® helicopter, the MH-60S mine countermeasure helicopter, the Gulfstream G650, C-5A Galaxy cargo jet, the A-10 Thunderbolt attack 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, 2009 and Forms 10-Q for the quarters ended March 31, 2010, June 30, 2010, and September 30, 2010.

CPI Aero® is a registered trademark of CPI Aerostructures, Inc.

Business Wire

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