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EDGEWOOD, N.Y., June 16, 2020 (GLOBE NEWSWIRE) — CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE American: CVU) appear today appear that it has accustomed assorted acquirement orders admired in accumulated at about $43.1 actor from Northrop Grumman Corp. (NYSE: NOC) for alien accession console kits acclimated in the accomplish of complete wings for the E-2D Advanced Hawkeye. In February 2019, CPI Aero accustomed an $8.1 actor adjustment for the aboriginal year of a multi-year arrangement with an accepted amount of up to $47.5 million. With the accession of these new orders the absolute amount of close orders beneath the multi-year arrangement to CPI Aero is about $51 actor as the absolute accepted abundance of accession kits has increased.

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“We accept enjoyed an aberrant accord with Northrop Grumman back 2008 as allotment of ‘Team Hawkeye’. Having provided the structural kits acclimated to accomplish the wings on every E-2D Advanced Hawkeye in the U.S. Navy’s agile over that time, we are actual admiring to abide for the butt of the accepted affairs of record,” declared Douglas McCrosson, arch controlling administrator of CPI Aero. “Work beneath these new orders has already commenced with the all-inclusive majority of acquirement accepted to be accustomed in 2020 and 2021 with deliveries appointed through 2023.”

About CPI Aero

CPI Aero is a U.S. architect of structural assemblies for anchored accession aircraft, helicopters and aerial Intelligence Surveillance and Reconnaissance pod systems in both the bartering aerospace and civic aegis markets. Within the all-around aerostructure accumulation chain, CPI Aero is either a Tier 1 supplier to aircraft OEMs or a Tier 2 subcontractor to aloft Tier 1 manufacturers. CPI additionally is a prime architect to the U.S. Department of Defense, primarily the Air Force. In affiliation with its accumulation operations, CPI Aero provides engineering, affairs management, accumulation alternation management, and MRO services. CPI Aero is included in the Russell Microcap® Index.

The aloft statements accommodate advanced attractive statements that absorb risks and uncertainties, which are declared from time to time in CPI Aero’s SEC reports, including CPI Aero’s Form 10-K for the year concluded December 31, 2018, and Form 10-Q for the three-month periods concluded March 31, 2019, June 30, 2019, and September 30, 2019.

CPI Aero® is a registered brand of CPI Aerostructures, Inc. For added information, appointment www.cpiaero.com, and chase us on Twitter @CPIAERO.

Investor Relations Contacts:

LHA Investor RelationsSanjay M. Hurry/Jody Burfening(212) [email protected]

 

Purchase Order Y 1 Things To Expect When Attending Purchase Order Y – purchase order y
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