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TMCNet:  CPI Aero Announces $10.59 Million Purchase Order for Wing Kits from Northrop Grumman Corporation

[December 26, 2013]

CPI Aero Announces $10.59 Million Purchase Order for Wing Kits from Northrop Grumman Corporation

EDGEWOOD, N.Y. --(Business Wire)--

CPI Aerostructures, Inc. ("CPI Aero®") (NYSE MKT:CVU) today announced that it has received a $10.59 million purchase order from Northrop Grumman Corporation (NYSE:NOC (News - Alert)) for Outer Wing Panel (OWP) kits for E-2D Advanced Hawkeye, full rate production Lot 2 aircraft.

CPI Aero has produced OWP kits for the E-2D Advanced Hawkeye and C-2A Greyhound aircraft, which share a common wing design, since June 2008. CPI Aero has received orders for OWP kits totaling approximately $66.3 million.

This award was included in the previously announced total of $101.9 million in new business awards from all customers as of December 3, 2013.

About Northrop Grumman (News - Alert) Corporation

Northrop Grumman is a leading global security company providing innovative systems, products and solutions in unmanned systems, cyber, C4ISR, and logistics and modernization to government and commercial customers worldwide. Please visit www.northropgrumman.com for more information.


About CPI Aero

CPI Aero is a U.S. manufacturer of structural aircraft parts for fixed wing aircraft and helicopters in both the commercial and defense 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 programs that CPI Aero supplies are the E-2D Advanced Hawkeye surveillance aircraft, the A-10 Thunderbolt attack jet, the Gulfstream G650, the UH-60 BLACK HAWK® helicopter, the S-92® helicopter, the MH-60S mine countermeasure helicopter, AH-1Z ZULU attack helicopter, the HondaJet-Advanced Light Jet, the MH-53 and CH-53 variant helicopters, the C-5A Galaxy cargo jet, the E-3 Sentry AWACS jet, the Embraer Phenom 300 light business jet and the New Cessna Citation X. 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 (News - Alert) reports, including CPI Aero's Form 10-K for the year ended December 31, 2012 and Forms 10-Q for the quarters ended March 31, 2013, June 30, 2013 and September 30, 2013.

CPI Aero® is a registered trademark of CPI Aerostructures, Inc.


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