CPI Aerostructures Receives Additional Purchase Orders To Supply E-2D Advanced Hawkeye Wing Components

CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE American:CVU) has received purchase orders from Northrop Grumman Corporation (NYSE: NOC) to supply structural components and kits for the Outer Wing Panel (OWP) on the third and fourth production E-2D Advanced Hawkeye airborne early warning and control (AEW&C) aircraft to be delivered to Japan. The purchase orders will be delivered under a contract announced in January 2016 between Northrop Grumman and CPI Aero valued at $25 million to $30 million.

The Pentagon announced on June 1, 2015, that the U.S. Department of State approved a sale of four Northrop Grumman E-2D Advanced Hawkeye aircraft to Japan. The E-2D Advanced Hawkeye is the U.S. Navy’s primary AEW&C aircraft.

Douglas McCrosson, President and CEO of CPI Aero, stated, “With these orders, we are now actively working on all four E-2D aircraft that have been approved by the State Department to be sold to Japan, a testament to our excellent program execution on the E-2D platform. We are excited to be part of the team.”