CPI Aero Announces $8.1 Million Contract for E-2D Advanced Hawkeye Wing Kits From Northrop Grumman
February 25 2019 - 8:00AM
CPI Aerostructures, Inc. (NYSE American: CVU) today announced that
it has received a contract with a maximum value of $8.1 million
from Northrop Grumman Corp. (NYSE: NOC) for outer wing panel kits
used in the manufacture of complete wings for the E-2D Advanced
Hawkeye. CPI Aero has produced outer wing panel kits since 2008 for
the E-2D Advanced Hawkeye, the U.S. Navy's carrier-based airborne
early warning and control aircraft.
“Exceptional program execution, superior product quality and the
ability to provide value to our customers lies at the heart of our
ongoing ability to secure multiyear defense contracts with leading
defense technology companies,” said Douglas McCrosson, president
and CEO of CPI Aero, “We are pleased to have the opportunity to
extend our long-standing partnership with Northrop Grumman for an
additional six years as a key member of ‘Team Hawkeye.’”
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, 2017, and Form 10-Q for the three-month
period ended March 31, 2018, June 30, 2018, and September 30,
2018.
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 |
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(212) 838-3777 |
www.cpiaero.com |
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cpiaero@lhai.com |
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www.lhai.com |
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