CPI Aerostructures Announces Contract Extension from
Spirit AeroSystems for Business Jet Wing Leading Edges Through 2019
April 22, 2013
Edgewood, NY – CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE American: CVU) today announced that it received a purchase order from Northrop Grumman Corporation (NYSE:NOC) today announced that it has reached an agreement with Spirit AeroSystems, Inc.(“Spirit”) to extend its contract for manufacturing wing leading edge assemblies for a business jet aircraft through 2019. CPI Aero’s contract, originally signed in 2008, was to have expired at the end of 2013.
The Company also announced that it has received additional purchase orders from Spirit for business jet wing leading edge assemblies that extend CPI Aero’s funded backlog for this program through December 2013.
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. Among the key national security programs that CPI Aero supplies are the E-2D Advanced Hawkeye surveillance aircraft, the UH-60 BLACK HAWK® helicopter, the MH-53/CH-53 variant helicopters, the F-16 fighter aircraft, the MH-60S mine countermeasure helicopter, the AH-1Z ZULU attack helicopter, the DB-110 reconnaissance pod and the ALMDS mine detecting pod. In the commercial aviation market CPI Aero manufactures products for the Gulfstream G650 ultra-large cabin business jet, the HondaJet advanced light jet, the Embraer Phenom 300 business jet, the new Cessna Citation X+, and the S-92® helicopter. 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, 2012.
CPI Aero® is a registered trademark of CPI Aerostructures, Inc.
Chief Financial Officer
Investor Relations Counsel:
Jody Burfening/Sanjay M. Hurry