CPI Aerostructures Receives $1.9 Million Order for Welded Assemblies

Rhea-AI Summary

CPI Aerostructures (CVU) announced a new purchase order valued at approximately $1.9 million for welded structural assemblies from a current customer. These components will be used on a U.S. military helicopter and are expected to be delivered within 2022. CPI Aero specializes in manufacturing structural assemblies for fixed-wing aircraft, helicopters, and airborne systems, serving both commercial and national security markets. The company acts as a Tier 1 supplier and a prime contractor for the U.S. Department of Defense.

Positive

• New purchase order of approximately $1.9 million received.
• Components are for a U.S. military helicopter, indicating stable government contracts.
• Expected delivery within the same year enhances operational efficiency.

Negative

• None.

EDGEWOOD, N.Y., Feb. 03, 2022 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE American: CVU) announced that it has received a purchase order for welded structural assemblies from a current customer valued at approximately $1.9 million. The welded assemblies are used on a U.S. military helicopter. The entire order is expected to be delivered in 2022.

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/A for the year ended December 31, 2020 and Form 10-Q for the quarter ended March 31, 2021.

CPI Aero® is a registered trademark of CPI Aerostructures, Inc. For more information, visit www.cpiaero.com, and follow us on Twitter @CPIAERO.

Investor Relations Contacts:

LHA Investor Relations
Jody Burfening
(212) 838-3777
cpiaero@lhai.com
www.lhai.com

CPI Aero
Andrew Davis
Chief Financial Officer
Adavis@cpiaero.com