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CPI Aerostructures Announces Purchase Order from Goodrich for Aerospace Structural Assemblies

Dépèche transmise le 21 février 2012 par Business Wire

CPI Aerostructures Announces Purchase Order from Goodrich for Aerospace Structural Assemblies

EDGEWOOD, N.Y.--(BUSINESS WIRE)--CPI Aerostructures, Inc. ("CPI Aero®") (NYSE Amex:CVU) today announced that it has received a purchase order from Goodrich Corporation (“Goodrich”) for the supply of aerospace structural assemblies. Work will begin immediately with first delivery scheduled for second quarter of 2013. All deliveries will occur prior to the end of 2013. This is the first contract awarded to CPI Aero by Goodrich. In addition, for the first time, CPI Aero will have design authority for design modifications to the structure it is manufacturing. CPI Aero will utilize GKN Aerospace’s Engineering Development Center in Nashville, TN for the design and structural analysis portion of this program. The structural assemblies will be manufactured entirely by CPI Aero within its new, state-of-the-art production facility.

Including this new award, total new business from all customers in 2012 is $27.4 million, compared to $22.3 million for the first two months of 2011.

CPI Aero is engaged in the contract production of structural 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 A-10 Thunderbolt attack jet, the Gulfstream G650, the UH-60 BLACK HAWK helicopter, the S-92® helicopter, the MH-60S mine countermeasure helicopter, AH-1Z ZULU attack helicopter, the HondaJet-Advanced Light Jet, the MH-53 and CH-53 variant helicopters, the C-5A Galaxy cargo jet, and the E-3 Sentry AWACS jet. CPI Aero is included in the Russell Microcap^® Index.

GKN Aerospace is the aerospace operation of GKN plc, serving a global customer base and operating in North America, the Asia Pacific and Europe. GKN Aerospace is a major supplier of complex composite structures; offers one of the most comprehensive capabilities in high performance metallics processing and is the world’s leading supplier of cockpit transparencies and passenger cabin windows.

Goodrich Corporation, a Fortune 500 company, is a global supplier of systems and services to aerospace, defense and homeland security markets. With one of the most strategically diversified portfolios of products in the industry, Goodrich serves a global customer base with significant worldwide manufacturing and service facilities.

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 CPI Aero’s Forms 10-Q for the quarters ended March 31, 2011, June 30, 2011 and September 30, 2011.

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