CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE MKT: CVU) today announced that on December 20, 2012 it received an $11.45 million purchase order from Northrop Grumman Corporation (NYSE:NOC) for Outer Wing Panel (OWP) kits. The kits are for use in the manufacture of complete wings for the C-2A Greyhound, a high-wing carrier on-board delivery (COD) aircraft used by the Navy. Designed to land on aircraft carriers, this monoplane cargo aircraft provides critical logistics support to carrier strike groups.
CPI Aero has produced OWP kits for the E-2D Advanced Hawkeye and the C-2A Greyhound aircrafts since June 2008. The E-2D and C-2A share a common wing design. CPI Aero has received firm orders and advanced funding for OWP kits totaling approximately $58 million.
This order was included in the previously reported total contract awards of approximately $81.6 million, received from all customers in 2012.
Source: CPI Aerostructures, Inc.
Date: Feb 11, 2013