CPI Aero Receives $1.8M Follow-On Order for Welded Fluid Tank Assemblies
January 05 2023 - 8:00AM
CPI Aerostructures, Inc. (CPI Aero® or the Company) (NYSE
American: CVU) announced today that an undisclosed aerospace OEM
has awarded CPI Aero a $1.8 million contract for complex welded
fluid tank assemblies for an unspecified application. Deliveries
will begin in 2023 and end in 2024.
“This follow-on order demonstrates our
customer’s satisfaction with CPI Aero’s performance and continued
commitment to excellence. This fluid tank assembly involves complex
fusion and resistance welding, and leverages strategic investments
CPI Aero has made in welded product capabilities since 2019. These
investments were key to the successful transition of this program
from development to production, resulting in improved quality and
increased throughput,” commented Dorith Hakim, president and chief
executive officer 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.
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, 2021 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 |
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Investor Relations CounselLHA Investor
RelationsJody Burfening(212)
838-3777cpiaero@lhai.comwww.lhai.com |
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CPI Aerostructures, Inc.Andrew L. DavisChief
Financial Officer(631)586-5200www.cpiaero.com |
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