CPI Aerostructures WMI Subsidiary Receives $700,000 Order from USAF Materiel Command for Electrical Relay Boxes for A-10 Aircraft

February 25, 2019

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CPI Aerostructures, Inc. (“CPI Aero®” or “the Company”) (NYSE American: CVU) today announced that its Welding Metallugy, Inc. subsidiary (WMI) has been awarded a $700,000 contract by the U.S. Air Force Materiel Command to manufacture electrical relay boxes for A-10 Thunderbolt aircraft. In addition to the A-10, since the beginning of the year, WMI has received orders for electronic assemblies on the SEASPARROW missile launch control system, as well as welded assemblies for the CH-47 Chinook, UH-60 BLACK HAWK, and CH-53K King Stallion helicopters. As a result, year-to-date orders have totaled approximately $2.8 million.

CPI Aero President and Chief Executive Officer Douglas McCrosson stated, “We completed the acquisition of WMI in late December 2018 and could not be more pleased with the positive response from customers.  Building its backlog from $7.6 million at the end of 2017 to  $16.9 million at the end of 2018, it’s great to see WMI maintain the momentum into 2019. We are on schedule with our planned relocation of WMI’s operations into our facility by the end of March, and we are working closely with customers to ensure a successful consolidation of operations.”

Source : CPI Aerostructures, Inc.