CPI Aerostructures Receives Fiscal 2006 T-38 Contract Award Valued at $6.6 Million(EDGEWOOD, N.Y., Nov. 2, 2005) -- CPI Aerostructures, Inc. (AMEX: CVU) ("CPI Aero") today reported that the U.S. Air Force has released its 2006 order to CPI Aero under the T-38 Talon trainer aircraft program. The new order, valued at approximately $6.6 million, is for 71 ship-sets of structural inlets as part of the Propulsion Modernization Program on this aircraft.
"Since 2001, when we were selected for the 10-year $61 million contract for the T-38 modernization program, CPI Aero has demonstrated its flexibility and capacity to adapt to the changing demands of the Air Force on short notice, and is able to satisfy expanded orders seamlessly. Orders under this program have totaled $33.8 million thus far; which means that over the next five years, we would expect an additional $27.2 million in orders," stated CPI Aero's President & CEO, Edward J. Fred.
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Founded in 1980, CPI Aerostructures is engaged in the contract production of structural aircraft parts principally for the U.S. Air Force and other branches of the armed forces. In conjunction with its assembly operations, CPI Aero provides engineering, technical and program management services. Among the key programs that CPI supplies are the C-5A Galaxy cargo jet, the T-38 Talon jet trainer, the A-10 Thunderbolt attack jet and the E-3 Sentry AWACS jet.
The above statements include forward looking statements that involve risks and uncertainties, which are described from time to time in CPI Aero's SEC reports, including CPI Aero's Form 10-KSB for the year ended December 31, 2004 and Forms 10-Q for the quarters ended March 31, 2005 and June 30, 2005.
Investor Relations Counsel:
The Equity Group Inc.
Linda Latman, 212-836-9609
Andreas Marathovouniotis, 212-836-9611
Source : CPI Aerostructures, Inc.