(EDGEWOOD, N.Y., Sept. 11, 2006) -- CPI Aerostructures, Inc. (AMEX Symbol: CVU) today announced that the U.S. Air Force has released a $1.1 million order under CPI Aero's C-5 TOP contract. This order includes a variety of wing spoilers, panels and formers.
In May 2004, CPI Aero was awarded a C-5 TOP (wing tips, others and panels) contract by the U.S. Air Force, which is valued at up to $215 million over the seven year life of the program. Orders under this program, including this $1.1 million order, have totaled $12.9 million to date.
Edward J. Fred, CPI Aero's CEO & President stated, "We view this order as a positive development for us, as it represents the third release under this contract during the government's 2006 fiscal year. All public indications are that the C-5 aircraft is an integral part of our country's airlift mobility capability, and we're hopeful that these orders will continue to be received more frequently than in the past."
CPI Aero 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 Aero supplies are the C-5A Galaxy cargo jet, the T-38 Talon jet trainer, the A-10 Thunderbolt attack jet, the E-3 Sentry AWACS jet and the MH-60S mine countermeasure helicopter.