CPI Aerostructures Receives $1.9 Million Order for Welded Assemblies

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February 3, 2022 8:30 AM EST

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EDGEWOOD, N.Y., Feb. 03, 2022 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE American: CVU) announced that it has received a purchase order for welded structural assemblies from a current customer valued at approximately $1.9 million. The welded assemblies are used on a U.S. military helicopter. The entire order is expected to be delivered in 2022.

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/A for the year ended December 31, 2020 and Form 10-Q for the quarter ended March 31, 2021.

CPI Aero® is a registered trademark of CPI Aerostructures, Inc. For more information, visit www.cpiaero.com, and follow us on Twitter @CPIAERO.

Investor Relations Contacts:

LHA Investor RelationsJody Burfening(212) 838-3777[email protected]www.lhai.com

CPI AeroAndrew DavisChief Financial Officer[email protected]