EDGEWOOD, N.Y., Sept. 12, 2018 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE American: CVU) announced today that it has received a purchase order valued at approximately $1 million from a leading global aerospace and defense company for the manufacture of pod structural housing assemblies. Work on this order will commence immediately and continue through the end of 2019.
CPI Aero has received several previous orders for this assembly totaling approximately $18 million since 2004 from the same customer and recently completed a contract that was awarded in 2016.
About CPI Aero
CPI Aero is a U.S. manufacturer of structural assemblies for fixed wing aircraft, helicopters and airborne Intelligence Surveillance and Reconnaissance pod systems in both the commercial aerospace and national security markets. Within the global aerostructure supply chain, CPI Aero is either a Tier 1 supplier to aircraft OEMs or a Tier 2 subcontractor to major Tier 1 manufacturers. CPI also is a prime contractor to the U.S. Department of Defense, primarily the Air Force. In conjunction with its assembly operations, CPI Aero provides engineering, program management, supply chain management, and MRO services. 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, 2017, and Form 10-Q for the three-month periods ended March 31, 2018 and June 30, 2018.
CPI Aero® is a registered trademark of CPI Aerostructures, Inc. For more information, visit www.cpiaero.com, and follow us on Twitter @CPIAERO.
Contact:
| Vincent Palazzolo | Investor Relations Counsel: |
| Chief Financial Officer | LHA |
| CPI Aero | Jody Burfening/Sanjay M. Hurry |
| (631) 586-5200 | (212) 838-3777 |
| www.cpiaero.com | cpiaero@lhai.com |
| www.lhai.com |