CPI Aero Announces $14 M in Purchase Orders for Wing Kits from NGC
CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE MKT:CVU) today announced that it received orders totaling approximately $14 million 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-2 Greyhound and the Japan Air Self-Defense Force E-2C airborne early warning and control aircraft. The C-2 Greyhound's primary mission is to transport high-priority cargo, critical aircraft parts, mail and passengers to deployed Carrier Strike Groups.
CPI Aero has produced OWP kits for the E-2D Advanced Hawkeye and the C-2A Greyhound aircraft, which share a common wing design, since June 2008. This is CPI Aero’s first purchase order for OWP kits to be used on an E-2C Hawkeye operated by an international customer. There are currently over 100 aircraft in operation around the world with one-third of those being operated by other countries. Since 2008, CPI Aero has received orders for OWP kits totaling approximately $80 million. These new awards were received late last year and were included in the previously announced $122.3 million in total awards for 2013.
Global Military Fixed Wing Market Assessment
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.
Nov 16 - 18, 2015 - Washington, United States