CPI Aerostructures Awarded Contract From Raytheon Missiles & Defense
January 08 2021 - 8:30AM
CPI Aerostructures, Inc. (“CPI Aero”) (NYSE American: CVU)
announced today that it has received an order from Raytheon
Missiles & Defense, a Raytheon Technologies business, to
manufacture structural assemblies on an undisclosed platform. This
is a sole source follow-on order and CPI Aero anticipates making
deliveries starting in 2021. Terms of the order will not be
disclosed.
“Last year we were honored to receive Raytheon Technologies’
Premier Supplier Award in recognition of our work on the Next
Generation Jammer Mid Band pod. This new contract demonstrates both
Raytheon Missiles & Defense’s continued trust in CPI Aero as a
critical Tier 1 supplier and commitment to utilizing top-performing
supply chain partners across their enterprise,” said Douglas
McCrosson, president and CEO of CPI Aero. “Missiles and other
autonomous aircraft systems are strategic areas of growth for CPI
Aero. Our reputation for excellence in manufacturing some of the
world’s most advanced pod-based airborne electronic systems
provides confidence that we can be successful in this adjacent
market.”
About CPI AeroCPI Aero is a
U.S. manufacturer of structural assemblies for fixed wing aircraft,
helicopters and airborne Intelligence Surveillance and
Reconnaissance and Electronic Warfare pod systems, primarily for
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, 2019 and Forms 10-Q for the three-month
periods ended March 31, 2020, June 30, 2020,and September 30,
2020.
CPI Aero® is a registered trademark of CPI Aerostructures, Inc.
For more information, visit www.cpiaero.com, and follow us on
Twitter @CPIAERO.
Contact:
Investor Relations Counsel:
LHA Investor Relations
Jody Burfening
(212) 838-3777
cpiaero@lhai.com
www.lhai.com
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