CPI Aerostructures Receives Purchase Orders for T-38C Aircraft Modification Kits
September 25 2017 - 8:00AM
CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE American:CVU)
announced that it has received purchase orders valued at
approximately $2 million from the United States Air Force to
provide structural modification kits for the T-38C Pacer Classic
III aircraft structural modification program. With these purchase
orders, the Company has to date received four orders totaling $13.7
million under a potential $49 million indefinite
delivery/indefinite quantity (IDIQ) contract which CPI Aero won in
February 2015 from the Air Force Life Cycle Management Center at
Hill Air Force Base in Utah.
Under the IDIQ, CPI Aero provides structural
components, program management, logistics, discrepancy
reporting/resolution, and sub-contract management as part of a
modification program designed to enhance T-38C operational
capability while improving flight safety, reliability, and
maintainability. The T-38C is a twin engine, two seat,
supersonic jet trainer used by Air Education Training Command as an
advanced trainer in Specialized Undergraduate Pilot Training.
About CPI
Aero
CPI Aero is a U.S. manufacturer of structural
assemblies and value-added kits for fixed wing and rotary wing
aircraft in both the commercial aerospace and defense
markets. CPI Aero also manufactures pod-based, airborne
avionics systems for Intelligence Surveillance and Reconnaissance
(ISR), Electronic Warfare (EW) and Radar end-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 quarters ended March 31, 2017, and June 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: |
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Vincent Palazzolo |
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Investor Relations
Counsel: |
Chief Financial
Officer |
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LHA |
CPI Aero |
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Jody
Burfening/Sanjay M. Hurry |
(631) 586-5200 |
|
(212) 838-3777 |
www.cpiaero.com |
|
cpiaero@lhai.com |
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www.lhai.com |
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