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CPI Aero Awarded $4 M for E-2D Seats from NGC

Edgewood, N.Y. - EDGEWOOD, N.Y., Feb 22, 2011 (BUSINESS WIRE) --

CPI Aerostructures, Inc. ("CPI Aero(R)") (NYSE Amex: CVU) announced today it has received a purchase order to manufacture seats for the E-2D Advanced Hawkeye aircraft from Northrop Grumman Corporation (NYSE: NOC) valued at approximately $4 million. There are a total of five seats in three different designs in an E-2D; one for the pilot, one for the co-pilot and three seats for the crew members. The period of performance is through 2013 with first delivery scheduled for early 2012.

Edward J. Fred, CPI Aero's CEO & President stated, "We could not be more pleased to be awarded yet another contract to support Northrop Grumman and the E-2D Advanced Hawkeye. In combination with the $27.6 million contract for E-2D Outer Wing Panel Kits announced in June 2010, this new order further establishes CPI Aero as an important supply chain partner for Northrop Grumman and the U.S. Navy well into the future."

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Source : CPI Aerostructures Inc.

Published on ASDNews: Feb 23, 2011


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