EDGEWOOD, N.Y., Feb. 24, 2026 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. ("CPI Aero" or the "Company") (NYSE American: CVU) announced that Lockheed Martin Aeronautics has placed several additional orders totaling $9 million against a previously announced Long Term Agreement to manufacture the Rudder Island Drag Chute Canister (RI/DCC) assemblies for the F-16 Block 70/72 fighter jets. These new orders will see deliveries continue through 2028.
CPI Aero delivered its first RI/DCC assembly for the F-16 Block 70/72 in June 2021. CPI was awarded a second follow-on multi-year contract in 2023. This recent award adds funding for additional quantities under that Indefinite Delivery, Indefinite Quantity (IDIQ) contract.
"The F-16 Fighting Falcon remains the world's most advanced 4th-generation fighter aircraft ever built, operating in more than 29 countries. CPI is honored to support Lockheed Martin's F-16 production line with mission-critical structural assemblies, leveraging our proven capabilities in the assembly and integration of complex, mixed-commodity aerostructures and aerosystems. Day in and day out, Lockheed Martin, and our other OEM and DoD customers depend on CPI to deliver world-class manufacturing, engineering, program and supply chain management to support our war fighters," stated Dorith Hakim, CEO & President of CPI Aero.
About CPI Aero
CPI Aero is a prime contractor to the U.S. Department of Defense as well as a Tier 1 subcontractor to some of the largest aerospace and defense contractors in the world. CPI Aero provides engineering, program management, supply chain management, assembly operations and MRO services to this global network of customers. CPI Aero is recognized as a leader within the international aerospace market in such areas as aircraft structural assemblies, military advanced tactical pod structures, engine air inlets, and complex welded products. CPI Aero's international customer base enjoys a unique combination of large-company capabilities, matched with small-company value, responsiveness, and personal customer service.
Forward-looking Statements
This 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. 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.
Forward-looking statements involve risks and uncertainties, and actual results could vary materially from these 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 for the period ended December 31, 2024 filed with the Securities and Exchange Commission. 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: | |
| Investor Relations Counsel | CPI Aerostructures, Inc. |
| Alliance Advisors IR | Robert Mannix |
| Jody Burfening | Chief Financial Officer |
| (212) 838-3777 | (631) 586-5200 |
| cpiaero@allianceadvisors.com | rmannix@cpiaero.com |
| www.cpiaero.com |
