CPI AEROSTRUCTURES IS DEEMED EXEMPT FROM NEW YORK STATE ‘WORK FROM HOME’ MANDATE
March 24 2020 - 8:00AM
CPI Aerostructures, Inc. (CPI Aero®) (NYSE American: CVU) (the
“Company”) today announced that it has been classified as an
‘essential business’ by New York State and is, therefore, exempt
from the state’s mandate that all non-essential New York businesses
close until further notice. The New York State exemption follows
the statement issued by the Under Secretary of Defense for
Acquisition and Sustainment on March 20, 2020 declaring that
defense contractors are ‘critical infrastructure’ to national
security.
"The well-being of our employees is our top
priority, and, to that end, we have taken steps to safeguard their
health in compliance with recommendations and protocols established
by public health organizations and state and local public health
departments. While we continue to monitor ever changing impacts
from COVID-19, I want to recognize the dedication of our employees
as they support our national security mission during these
difficult times. Because of them, we are open for business,” stated
Douglas McCrosson, president and CEO of CPI Aero.
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, 2018, and Form 10-Q for the three-month
periods ended March 31, 2019, June 30, 2019, and September 30,
2019.
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 Counsel: LHA Investor
Relations Sanjay M. Hurry / Jody Burfening (212) 838-3777
cpiaero@lhai.com www.lhai.com
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