CPI Aero Receives $6.2 M Purchase Order for T-38C Aircraft Modification Kits

CPI Aerostructures, Inc. (CPI Aero®) (NYSE MKT: CVU) has received a purchase order valued at $6.2 million from the United States Air Force to provide structural modification kits for the T-38C aircraft. This is the second purchase order received against a $49 million indefinite delivery/indefinite quantity contract which CPI Aero won in February 2015 from the Air Force Life Cycle Management Center, Hill Air Force Base, Utah. This purchase order increases the funded value of this contract to $11.8 million for deliveries through September 2018.

CPI Aero will provide structural components, program management, logistics, discrepancy reporting/resolution, and sub-contract management as part of the Pacer Classic III aircraft structural modification program designed to enhance T-38C operational capability while improving flight safety, reliability, and maintainability. The T-38C is a twin engine, two seat, supersonic jet trainer used by Air Education Training Command as an advanced trainer in Specialized Undergraduate Pilot Training.

Source: CPI Aerostructures, Inc.
Date: Sep 21, 2015