EDGEWOOD, N.Y., March 03, 2026 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. ("CPI Aero®" or the "Company") (NYSE American: CVU) announced that it has received funded orders totaling $6 million for Airborne Pods from Raytheon's Advanced Products & Solutions Strategic Business Unit. This program adds to the growing list of Airborne Pod Programs in CPI's Aerosystems Segment. The SOW includes the design and development of assembly tools and fixturing, procurement of complex monolithic machine parts and other detailed components, assembly and integration of the complete pod structure, and required testing. These funded orders were issued with a not-to-exceed (NTE) ceiling of $12 million.
"Manufacturing airborne pods is now recognized as a core competency at CPI Aero, leveraging our expertise in structural assembly and integration, supply chain management, tool design and manufacturing engineering. This pod program, along with others awarded by Raytheon and other OEMs, demonstrates our customer's continued trust in CPI Aero to deliver high quality products to exacting standards," stated Dorith Hakim, President and CEO 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 |
