CPI Aerostructures Receives $3.6 Million Follow-on Orders for Welded Assemblies
April 19 2023 - 4:05PM
CPI Aerostructures, Inc. (“CPI Aero®” or the “Company”) (NYSE
American: CVU) announced that it has received follow-on orders for
complex welded structural assemblies used on a U.S. military
helicopter from a current customer valued at approximately $3.6
million. Deliveries are expected to occur through mid-2024.
“These follow-on orders demonstrate our
customer's continued confidence in CPI’s ability to consistently
perform complex, tight tolerance, fusion welding on critical
structural assemblies while effectively managing our supply chain.
We are proud to be a part of the Defense Industrial Base and the
role we play in support of National Security,” stated Dorith Hakim,
President and CEO of CPI Aero.
About CPI AeroCPI 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.
Forward-looking StatementsThis
press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
All statements, other than statements of historical fact, included
or incorporated in this press release are forward-looking
statements. Forward-looking statements involve risks and
uncertainties, and actual results could vary materially from these
forward-looking statements. The Company does not guarantee that it
will actually achieve the plans, intentions or expectations
disclosed in its forward-looking statements and you should not
place undue reliance on the Company’s forward-looking
statements.
There are a number of important factors that
could cause the Company’s actual results to differ materially from
those indicated or implied by its forward-looking statements,
including those important factors set forth under the caption “Risk
Factors” in the Company’s Annual Report on Form 10-K for the period
ended December 31, 2022 and the Company’s subsequent filings with
the Securities and Exchange Commission. Although the Company may
elect to do so at some point in the future, the Company does not
assume any obligation to update any forward-looking statements and
it disclaims any intention or obligation to update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise.
CPI Aero® is a registered trademark of CPI
Aerostructures, Inc. For more information, visit www.cpiaero.com,
and follow us on Twitter @CPIAERO.
Contacts |
|
Investor Relations Counsel |
CPI Aerostructures, Inc. |
LHA Investor Relations |
Andrew L. Davis |
Jody Burfening |
Chief Financial Officer |
(212) 838-3777 |
(631)586-5200 |
cpiaero@lhai.com |
www.cpiaero.com |
www.lhai.com |
|
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