CPI Aero Receives Supplier of the Year Award from Northrop Grumman(EDGEWOOD, N.Y., Jun 28, 2006) -- CPI Aerostructures, Inc. ("CPI Aero") (AMEX: CVU) has been recognized by Northrop Grumman Corporation's (NYSE: NOC) Integrated Systems sector as a 2005 Supplier of the Year for its work on the RAMICS and ALMDS programs. This is the first year CPI Aero has been selected as a Supplier of the Year by Northrop Grumman.
CPI Aero was one of eight companies to receive a Supplier of the Year designation in this, the second year of the awards program. Edward J. Fred, CPI Aero's President & CEO, received the award on behalf of the Company on June 27, 2006 at a suppliers' awards luncheon sponsored by Northrop Grumman in Manhattan Beach, California.
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Mr. Fred stated, "CPI Aero is proud to be recognized by the Major Structures Strategic Sourcing Team as its supplier of the year. We have been informed that we performed in an exemplary manner on the RAMICS and ALMDS programs. We were responsible for developing Program Management and Integration plans that took these programs from engineering to production. Our design advice to Northrop Grumman was instrumental in the successful completion and acceptance of the product."
Northrop Grumman developed its Supplier of the Year Award program to recognize the critical role that its suppliers play in the delivery of high-performance products that the company produces for U.S. and international customers. The program is an outgrowth of the company's strategic sourcing initiative, an effort started in summer 2003 to build stronger long-term relationships between Northrop Grumman and its suppliers.
Under this initiative, every supplier is "graded" quarterly on parameters such as quality, on-time delivery and participation in affordability initiatives. To be considered for a Supplier of the Year award, a company must demonstrate consistent superior performance in delivering products and services to Northrop Grumman.
Northrop Grumman is the prime contractor for a variety of tactical and strategic airborne systems, including the U.S. Air Force's B-2 stealth bomber, the Joint Surveillance Target Attack Radar System, and Global Hawk unmanned aerial reconnaissance system; and the U.S. Navy's E-2 family of early warning and battle management aircraft, among others. It also serves as a major subcontractor to Lockheed Martin on the F-35 Joint Strike Fighter program, and to Boeing on the Navy's F/A-18 program.
"The support of our suppliers is critical to our sectors ability to produce and deliver affordable, high performance products," said Scott J. Seymour, Northrop Grumman corporate vice president and president of the Integrated Systems sector. "Their commitment, innovation, integrity and sustained levels of excellence play a substantial role in our success."
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Source : CPI Aerostructures