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CPI Aero Announces New C-5 Order Valued at $1.24 Million

Dépèche transmise le 24 août 2011 par Business Wire

CPI Aero Announces New C-5 Order Valued at $1.24 Million

EDGEWOOD, N.Y.--(BUSINESS WIRE)--CPI Aerostructures, Inc. ("CPI Aero®") (NYSE Amex: CVU) today announced that it has received a $1.24 million purchase order from the United States Air Force (“USAF”) for structural assemblies for the C-5B/M aircraft. Deliveries are scheduled to commence in mid-2012.

Edward J. Fred, CPI Aero's President and CEO, stated, "CPI Aero has been a major supplier of C-5 structure to the USAF for more than 15 years. Since 2003, the USAF has ordered more than $45 million of C-5 assemblies under the C-5 TOP contract. The USAF’s ordering period for the C-5 TOP contract closed in May 2011, with shipments concluding in late 2012. This new award demonstrates that our C-5 work extends beyond the TOP contract and is a positive sign that the C-5 platform will continue to be an important aircraft for CPI Aero in the future."

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 Advanced Hawkeye surveillance aircraft, MH-53 and CH-53 variant helicopters, 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 and Form 10-Q for the quarters ended March 31, 2011 and June 30, 2011.

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