CPI Aero’s WMI Subsidiary Receives New Orders From Northrop Grumman for Inflight Refueling Probe Assemblies
August 26 2019 - 7:00AM
CPI Aerostructures, Inc. (“CPI Aero”) (NYSE American: CVU) today
announced that its Welding Metallurgy, Inc. subsidiary (WMI) has
been awarded $1.23 million in new requirements for aerial refueling
probe assemblies from Northrop Grumman for new E-2D Advanced
Hawkeye (E-2D) aircraft. The probe assembly is a long, welded tube
assembly that enables a U.S. Air Force or Navy tanker aircraft to
provide fuel to the E-2D while in flight. WMI manufactured
several probe assemblies during the system test phase, and the
refuellable version of the E-2D flew for the first time in December
2016 with a probe assembly manufactured by WMI.
“The E-2D’s refueling capability is transformational, allowing
the aircraft to effectively double the time it can stay in the air
conducting surveillance and performing its battle management
command and control mission. We are pleased to have the opportunity
to continue manufacturing this critical component of the E-2D
inflight refueling system and bringing WMI’s superior technical and
unique production capabilities to bear in support of Northrop
Grumman’s commitment to providing the E-2D with increased
operational capability,” stated Douglas McCrosson, president and
CEO of CPI Aero.
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 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.
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-K for
the year ended December 31, 2018, and Form 10-Q for the three-month
periods ended March 31, 2019 and June 30, 2019.
CPI Aero® is a registered trademark of CPI Aerostructures, Inc.
For more information, visit www.cpiaero.com, and follow us on
Twitter @CPIAERO.
Contact: |
|
Vincent Palazzolo Chief Financial OfficerCPI Aero (631)
586-5200 www.cpiaero.com |
Investor Relations Counsel:LHA Investor RelationsJody
Burfening/Sanjay M. Hurry (212)
838-3777cpiaero@lhai.comwww.lhai.com |
CPI Aerostructures (AMEX:CVU)
Historical Stock Chart
From Apr 2024 to May 2024
CPI Aerostructures (AMEX:CVU)
Historical Stock Chart
From May 2023 to May 2024