CPI Aerostructures Receives Fiscal 2007 T-38 Contract Award Valued at $6.9M2006 Year-To-Date Awards Up Nearly 100% Compared to Same Period of 2005
(EDGEWOOD, N.Y., Nov. 30, 2006) -- CPI Aerostructures, Inc. ("CPI Aero") (AMEX: CVU) today reported that the U.S. Air Force has released its 2007 order to CPI Aero under the T-38 Talon trainer aircraft program. The new order, valued at approximately $6.9 million, is for 66 ship-sets of structural inlets as part of the Propulsion Modernization Program on this aircraft.
The Global Armored and Counter IED Vehicles Market 2014-2024
Edward J. Fred, CPI Aero's CEO & President, stated, "Since 2001, when we were selected for the 10-year $61 million contract for the T-38 modernization program, CPI Aero has demonstrated that a small business can produce complex structural assemblies, such as these inlets, with impeccable quality. On October 24th of this year, CPI Aero delivered its 250th ship-set of inlets, with a 100% quality rating since the program's inception. Orders under this program have totaled $40.7 million thus far; which means that over the next four years, we can expect an additional $20.3 million in orders."
Mr. Fred also pointed out, "Through November 30th, new orders for 2006 totaled $28.5 million, nearly double the $14.3 million in awards for the same period last year."
Your company’s press release on ASDNews and to thousands of other journalists and editors? Use our ASDWire press release distribution service.
Source : CPI Aerostructures, Inc.