CPI Aerostructures Receives $2.7M Order From Lockheed Martin for F-16V Structural Assemblies
07 Julho 2022 - 9:00AM
CPI Aerostructures, Inc. (“CPI Aero®”) (OTC Pink: CVUA) today
announced that Lockheed Martin (NYSE: LMT) has placed an order
against a previously announced multi-year contract to manufacture
structural assemblies for the F-16V aircraft, the world’s most
technologically advanced fourth generation fighter. This order
funds additional quantities of Rudder Island and Drag Chute
Canister (“RI/DCC”) assemblies for the F-16V. The RI/DCC is a large
structural sub-assembly that is installed on the tail section of
the aircraft. This order brings the total funding authorized to
date on this multi-year contract to $20.6 million. Deliveries on
this follow-on order are expected to begin during the fourth
quarter of 2023 and continue through mid-2024.
“CPI Aero is proud to be part of the F-16 Program. There are
over 25 Allied Partner Nation operating the F-16, and Lockheed
Martin and the USAF continue to see interest in the F-16V from
countries looking to operate it for the first time. We are excited
to see Lockheed Martin demonstrate, with these additional orders,
its continued confidence in CPI Aero to manufacture new structural
assemblies that meet or exceed its exacting standards,” stated
Dorith Hakim, CPI Aero’s CEO & President.
About CPI Aero CPI Aero is a U.S. manufacturer
of structural assemblies for fixed wing aircraft, helicopters and
airborne Intelligence Surveillance and Reconnaissance pod systems
in both the commercial aerospace and national security markets.
Within the global aerostructure supply chain, CPI Aero is either a
Tier 1 supplier to aircraft OEMs or a Tier 2 subcontractor to major
Tier 1 manufacturers. CPI Aero also is a prime contractor to the
U.S. Department of Defense, primarily the Air Force. In conjunction
with its assembly operations, CPI Aero provides engineering,
program management, supply chain management, and MRO services. CPI
Aero is included in the Russell Microcap® Index.
Forward-looking StatementsThis press release
contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. All statements,
other than statements of historical fact, included or incorporated
in this press release are forward-looking statements.
Forward-looking statements involve risks and uncertainties, and
actual results could vary materially from these forward-looking
statements. The Company does not guarantee that it will actually
achieve the plans, intentions or expectations disclosed in its
forward-looking statements and you should not place undue reliance
on the Company’s forward-looking statements.
There are a number of important factors that
could cause the Company’s actual results to differ materially from
those indicated or implied by its forward-looking statements,
including those important factors set forth under the caption “Risk
Factors” in the Company’s Annual Report on Form 10-K/A for the
period ended December 31, 2020 and subsequent Quarterly Reports on
Form 10-Q. Although the Company may elect to do so at some point in
the future, the Company does not assume any obligation to update
any forward-looking statements and it disclaims any intention or
obligation to update or revise any forward-looking statement,
whether as a result of new information, future events or
otherwise.
CPI Aero® is a registered trademark of CPI Aerostructures, Inc.
For more information, visit www.cpiaero.com, and follow us on
Twitter @CPIAERO.
Contacts: |
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Investor Relations Counsel LHA Investor
Relations Jody Burfening (212) 838-3777
cpiaero@lhai.com www.lhai.com |
CPI Aerostructures,
Inc.Andrew L. Davis Chief Financial
Officer(631)586-5200www.cpiaero.com |
Source: CPI Aerostructures, Inc.
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