Dépêches

CPI Aerostructures Announces $1.4 Million in New Orders from Bell Helicopter

Dépèche transmise le 3 octobre 2011 par Business Wire

EDGEWOOD, N.Y.--(BUSINESS WIRE)--CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE Amex: CVU) announced today that it has received new purchase orders totaling $1.4 million from Bell Helicopter, a Textron Inc. (NYSE: TXT) company, for the manufacture of various assemblies for the AH-1Z ZULU attack helicopter. The new orders were for additional requirements to a contract CPI Aero announced in March 2011. Including the new orders, CPI Aero has received aggregate orders in excess of $1.67 million for AH-1Z aircraft assemblies. The AH-1Z 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.

“Bell’s vote of confidence in CPI Aero, backed by this follow-on order, is extremely satisfying. We are very proud to be part of this important DoD program and our association with Bell, a leading helicopter producer. Shipments on this order should begin in early 2012.”

Edward J. Fred, CPI Aero’s President & CEO stated, “Bell’s vote of confidence in CPI Aero, backed by this follow-on order, is extremely satisfying. We are very proud to be part of this important DoD program and our association with Bell, a leading helicopter producer. Shipments on this order should begin in early 2012.”

Separately, CPI Aero announced that it has received authorization from an existing customer for work on an existing program that adds more than $15.7 million to its current backlog. Details of this award will be announced at a later time.

Collectively, these new awards increase year-to-date orders from all customers to $79.1 million through the first nine months of 2011, well in excess of the previous annual record of $61.7 million, achieved in 2010.

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 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, 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.