CPI Aero Awarded $1 M by NGC to Support Export Sales of ALMDS to Japan

CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE MKT: CVU) today announced that it was awarded a $1 million contract by Northrop Grumman Aerospace Systems (“NGAS”) to manufacture pod structural housings for the Airborne Laser Mine Detection System (“ALMDS”). In February 2012, NGAS announced its first direct commercial sale of four ALMDS to the Japan Maritime Self-Defense Force to help protect its coastline and the daily maritime traffic coming in and out of Japan's ports. The pod structures produced by CPI Aero will be used to support this export sale to Japan. CPI Aero will commence work immediately on this new contract and make deliveries to NGAS from mid-2013 through early 2014.

CPI Aero has produced ten pod structural assemblies for NGAS to support Low Rate Initial Production (LRIP) of ALMDS. Northrop’s ALMDS is part of the mine countermeasure (MCM) mission package on the U.S. Navy’s new Littoral Combat Ship and is designed for rapid wide-area reconnaissance and assessment of anti-ship mines in coastal waters, harbors, confined straits, choke points and amphibious assault areas where aircraft carriers and expeditionary strike groups must operate. The ALMDS uses pulsed laser light and streak tube receivers housed in an external equipment pod on the MH-60 helicopter. The pod structural housings to be built by CPI Aero are pressurized and thermally conditioned structural assemblies that contain the ALMDS laser and electronics.

Source: CPI Aerostructures Inc.
Date: May 18, 2012