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CPI Aerostructures Announces Order from Bell Helicopter for Structural Panels on AH-1Z ZULU

Dépèche transmise le 15 mars 2011 par Business Wire

CPI Aerostructures Announces Order from Bell Helicopter for Structural Panels on AH-1Z ZULU

EDGEWOOD, N.Y.--(BUSINESS WIRE)--CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE Amex: CVU) announced today that it has received a purchase order from Bell Helicopter, a Textron Inc. (NYSE: TXT) company, for the manufacture of various structural panel assemblies for the AH-1Z ZULU attack helicopter. The ZULU is a twin-engine attack helicopter used by the United States Department of Defense. The AH-1Z reached initial operational capability in September 2010 and was approved to begin full-rate production in December 2010. The initial delivery order to CPI Aero is for the production of one of the six panels plus associated tooling and other non-recurring charges.

“We have worked hard to earn the Bell business and we are proud to now be a part of the Bell Helicopter supplier network. While the initial order requirement is small, we are hopeful that this will lead to more sizable orders as the aircraft transitions to full scale production.”

Edward J. Fred, CPI Aero’s President & CEO stated, “We have worked hard to earn the Bell business and we are proud to now be a part of the Bell Helicopter supplier network. While the initial order requirement is small, we are hopeful that this will lead to more sizable orders as the aircraft transitions to full scale production.”

About Bell Helicopter

Bell Helicopter, a wholly owned subsidiary of Textron Inc., is an industry-leading producer of commercial and military, manned and unmanned vertical lift aircraft and the pioneer of the revolutionary tilt rotor aircraft. Globally recognized for world-class customer service, innovation and superior quality, Bell's global workforce serves customers flying Bell aircraft in more than 120 countries.

About Textron Inc.

Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, and Textron Systems. More information is available at www.textron.com.

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. 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 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.