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CPI Aerostructures Completes Move to New Larger Headquarters

Dépèche transmise le 20 décembre 2011 par Business Wire

CPI Aerostructures Completes Move to New Larger Headquarters

EDGEWOOD, N.Y.--(BUSINESS WIRE)--CPI Aerostructures, Inc. ("CPI Aero®") (NYSE Amex:CVU) today announced that it has completed the move to a new 171,000 square foot facility, located at 91 Heartland Boulevard, Edgewood, New York two weeks ahead of schedule.

The new location, which is nearly three times the size of the former one, is being used as the Company’s assembly facility, principal offices and corporate headquarters.

Edward J. Fred, CPI Aero’s President & CEO, stated, “Thanks to planning and a motivated and enthusiastic staff, we completed the relocation well ahead of schedule. While there is still work to be done to optimize the space, work on the major programs that we supply is continuing as planned. The new facility, which is in close proximity to our former one, has sufficient space to accommodate anticipated growth in orders, programs and customers, and should take us well into the future as we grow revenue and profits over the coming years.”

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, MH-53 and CH-53 variant helicopters, the Gulfstream G650, C-5A Galaxy cargo jet, the A-10 Thunderbolt attack jet, AH-1Z ZULU attack helicopter 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, June 30, and September 30, 2011.

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