CPI Aerostructures Selected by Northrop Grumman to Supply Wing Components for Japanese E-2D Advanced Hawkeye
Contract Is Expected to Be Valued at More Than $25 Million
(firmenpresse) - EDGEWOOD, NY -- (Marketwired) -- 01/14/16 -- CPI Aerostructures, Inc. ("CPI Aero®") (NYSE MKT: CVU) has been selected by Northrop Grumman Corporation (NYSE: NOC) to supply structural components and kits for the Outer Wing Panel (OWP) on the E-2D Advanced Hawkeye airborne early warning and control (AEW&C) aircraft that will be manufactured for Japan. The E-2D Advanced Hawkeye is the U.S. Navy''s primary AEW&C aircraft.
CPI Aero will be responsible for component source selection, supply chain management, delivery of kits, and will provide manufacturing engineering services to Northrop Grumman during the integration of the components into the OWP. The contract from Northrop Grumman is valued at between $25 million and $30 million.
The Pentagon announced on June 1, 2015, that the U.S. Department of State approved the sale of four Northrop Grumman E-2D Advanced Hawkeye aircraft to Japan. The OWP will be a combination of new structural components and components that are common with the current OWP. CPI Aero has produced OWP kits for the E-2D Advanced Hawkeye and the C-2A Greyhound aircraft since June 2008.
Douglas McCrosson, President and CEO of CPI Aero, stated, "We''re honored to have been selected by Northrop Grumman for this very important and strategic international program. We believe that our supply chain management services are unique in that they are rooted in more than 35 years of aircraft assembly experience. It''s satisfying to know that Northrop Grumman trusts CPI Aero to be a value-added teammate as they design and develop this capability for the E-2D."
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 for more information.
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, 2014 and Form 10-Q for the quarters ended March 31, 2015, June 30, 2015, and September 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:
LHA
Jody Burfening/Sanjay M. Hurry
(212) 838-3777
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Datum: 14.01.2016 - 15:05 Uhr
Sprache: Deutsch
News-ID 1409058
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