CPI Aerostructures Receives Additional Purchase Orders to Supply E-2D Advanced Hawkeye Wing Components
20 Février 2018 - 2:00PM
CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE American:CVU) has
received purchase orders from Northrop Grumman Corporation
(NYSE:NOC) to supply structural components and kits for the Outer
Wing Panel (OWP) on the third and fourth production E-2D Advanced
Hawkeye airborne early warning and control (AEW&C) aircraft to
be delivered to Japan. The purchase orders will be delivered under
a contract announced in January 2016 between Northrop Grumman and
CPI Aero valued at $25 million to $30 million.
The Pentagon announced on June 1, 2015, that the
U.S. Department of State approved a sale of four Northrop Grumman
E-2D Advanced Hawkeye aircraft to Japan. The E-2D Advanced Hawkeye
is the U.S. Navy’s primary AEW&C aircraft.
Douglas McCrosson, President and CEO of CPI
Aero, stated, “With these orders, we are now actively working on
all four E-2D aircraft that have been approved by the State
Department to be sold to Japan, a testament to our excellent
program execution on the E-2D platform. We are excited to be part
of the team.”
About CPI AeroCPI 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, 2016, and Form
10-Q for the three-month periods ended March 31, 2017, June 30,
2017, and September 30, 2017.
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 Investor
Relations |
CPI Aero |
Sanjay M. Hurry |
(631) 586-5200 |
(212) 838-3777 |
www.cpiaero.com |
cpiaero@lhai.com |
|
www.lhai.com |
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