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CPI AERO Announces New $7.5 Million Award for Wing Kits from Northrop Grumman Corporation Under Previously Announced Order

Dépèche transmise le 26 avril 2011 par Business Wire

CPI AERO Announces New $7.5 Million Award for Wing Kits from Northrop Grumman Corporation Under Previously Announced Order

EDGEWOOD, N.Y.--(BUSINESS WIRE)--CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE Amex: CVU) announced today that Northrop Grumman Corporation (“NGC”) has exercised an option under a previously awarded purchase order for Outer Wing Panel (OWP) kits for use in the manufacture of complete wings for the E-2D Hawkeye and the C-2A Greyhound aircrafts. In June 2010, NGC placed an order valued at up to $27.6 million for OWP kits, including options. This order increases the firm, funded requirements under this order to approximately $23.9 million. CPI Aero began work on OWP kits in June 2008. Since this time, CPI Aero has received firm orders for OWP Kits totaling approximately $31.8 million.

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 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, 2010.

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