CPI Aerostructures Announces $967,108 Contract Award from Boeing for Spare A-10 Door Assemblies

June 08, 2010 08:45 AM Eastern Daylight Time
Business Wire

EDGEWOOD, N.Y.--(BUSINESS WIRE)--CPI Aerostructures, Inc. ("CPI Aero®") (NYSE Amex: CVU) today announced that it has received a new award valued at $967,108 from the Boeing Defense, Space & Security unit of The Boeing Company ("Boeing") for spare main landing gear door assemblies for the A-10 aircraft. This represents the first spares order for a product that CPI Aero is currently manufacturing for Boeing under CPI Aero’s previously announced long-term requirements contract to support Boeing's A-10 Wing Replacement Program (WRP). The A-10 WRP contract between Boeing and CPI Aero is worth up to approximately $81 million for the production of a variety of structural assemblies for up to 242 enhanced wings. To date, CPI Aero has received $15.6 million of orders for the A-10 WRP program.

Edward J. Fred, CPI Aero's CEO and President, stated, "This new contract is separate and apart from the A-10 Wing Replacement Program and represents a new avenue for CPI Aero to expand our business on the A-10 platform. We are delighted to support Boeing on this spares requirement."

CPI Aero is engaged in the contract production of structural and other aircraft parts for leading prime defense contractors, the U.S. Air Force, and other branches of the armed forces. In conjunction with its assembly operations, CPI Aero provides engineering, technical and program management services. Among the key programs that CPI Aero supplies are the E-2D Hawkeye surveillance plane, the UH-60 BLACK HAWK helicopter, the S-92® helicopter, the MH-60S mine countermeasure helicopter, the Gulfstream G650, C-5A Galaxy cargo jet, the T-38 Talon jet trainer, the A-10 Thunderbolt attack jet, and the E-3 Sentry AWACS jet. 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, 2009 and CPI Aero’s Form 10-Q for the quarter ended March 31, 2010.

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

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CPI Aero to support Boeing A-10 program

Published: June 9, 2010 at 1:51 PM
United Press International

EDGEWOOD, N.Y., June 9 (UPI) -- U.S. aerospace and defense company Boeing has contracted CPI Aerostructures Inc. to deliver spare aircraft parts to support an A-10 Thunderbolt program.

New York's CPI Aero is working under an approximately $81 million contract with Boeing to support its A-10 Wing Replacement Program with structural assemblies for as many as 242 enhanced wings.

The A-10 is a twin-engine jet aircraft used by the Air Force for close air support operations.

CPI Aero Tuesday announced Boeing's Defense, Space and Security unit awarded the company a new contract to provide A-10 spare main landing gear door assemblies. Officials say the new award is worth more than $967,000.

"This new contract is separate and apart from the A-10 Wing Replacement Program and represents a new avenue for CPI Aero to expand our business on the A-10 platform," Edward Fred, CPI Aero chief executive officer and president, said in a statement.

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