CPI Aero Receives $6.2 Million Purchase Order for T-38C Aircraft Modification Kits
(firmenpresse) - EDGEWOOD, NY -- (Marketwired) -- 09/21/15 -- CPI Aerostructures, Inc. (CPI Aero®) (NYSE MKT: CVU) has received a purchase order valued at $6.2 million from the United States Air Force to provide structural modification kits for the T-38C aircraft. This is the second purchase order received against a $49 million indefinite delivery/indefinite quantity contract which CPI Aero won in February 2015 from the Air Force Life Cycle Management Center, Hill Air Force Base, Utah. This purchase order increases the funded value of this contract to $11.8 million for deliveries through September 2018.
CPI Aero will provide structural components, program management, logistics, discrepancy reporting/resolution, and sub-contract management as part of the Pacer Classic III aircraft structural modification program designed to enhance T-38C operational capability while improving flight safety, reliability, and maintainability. The T-38C is a twin engine, two seat, supersonic jet trainer used by Air Education Training Command as an advanced trainer in Specialized Undergraduate Pilot Training.
CPI Aero is a U.S. manufacturer of structural assemblies for fixed wing aircraft, helicopters and airborne Intelligence Surveillance and Reconnaissance (ISR) 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 original equipment manufacturers 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 F-16 Falcon fighter, the T-38C Talon trainer, the MH-53/CH-53 variant helicopters, the MH-60S mine countermeasure helicopter, the AH-1Z ZULU attack helicopter, the DB-110 reconnaissance pod, the ALMDS mine detecting pod, and the A-10 Thunderbolt attack jet. 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, 2014 and Form 10-Q for the quarters ended March 31, 2015 and June 30, 2015.
CPI Aero® is a registered trademark of CPI Aerostructures, Inc.
Vincent Palazzolo
Chief Financial Officer
CPI Aero
631/586-5200
Investor Relations Counsel
The Equity Group Inc.
Lena Cati
212/836-9611
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Datum: 21.09.2015 - 06:45 Uhr
Sprache: Deutsch
News-ID 1386754
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