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Press Release

CPI Aerostructures Subsidiary WMI Receives $4 Million in New Orders From Northrop Grumman for Welded Assemblies and Tubes for E-2D Advanced Hawkeye

Company Release - 2/5/2020 10:30 AM ET

EDGEWOOD, N.Y., Feb. 05, 2020 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. (NYSE American: CVU) today announced that its Welding Metallurgy, Inc. subsidiary (WMI) has been awarded purchase orders totaling $4 million from Northrop Grumman Corporation (NYSE:NOC) for welded structure and tube assemblies for the E- 2D Advanced Hawkeye (E-2D) aircraft. Under the terms of the purchase orders, WMI will manufacture more than 140 different items in support of the production of at least 25 E-2D aircraft. The period of performance is expected to be through 2022 with first deliveries commencing in early 2020.

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.

Contacts:
  
Dan Azmon
Chief Financial Officer
CPI Aero
(631) 586-5200
www.cpiaero.com
Investor Relations Counsel:
LHA
Sanjay M. Hurry/Jody Burfening
(212) 838-3777
[email protected]
www.lhai.com

*NAVAIR public release, SPR-2019-664. Distribution Statement A, approved for public release, distribution is unlimited.

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Source: CPI Aerostructures, Inc.

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91 Heartland Boulevard Edgewood, NY 11717

Phone: 631-586-5200 | Fax: 631-586-5840