Cpi Aerostructures (NYSE AMEX:CVU)

EDGEWOOD, N.Y.--(BUSINESS WIRE)--CPI Aerostructures, Inc. (“CPI Aero^®”) (NYSE MKT: CVU) today announced that it was awarded a $1 million contract by Northrop Grumman Aerospace Systems (“NGAS”) to manufacture pod structural housings for the Airborne Laser Mine Detection System (“ALMDS”). In February 2012, NGAS announced its first direct commercial sale of four ALMDS to the Japan Maritime Self-Defense Force to help protect its coastline and the daily maritime traffic coming in and out of Japan's ports. The pod structures produced by CPI Aero will be used to support this export sale to Japan. CPI Aero will commence work immediately on this new contract and make deliveries to NGAS from mid-2013 through early 2014.

CPI Aero has produced ten pod structural assemblies for NGAS to support Low Rate Initial Production (LRIP) of ALMDS. Northrop’s ALMDS is part of the mine countermeasure (MCM) mission package on the U.S. Navy’s new Littoral Combat Ship and is designed for rapid wide-area reconnaissance and assessment of anti-ship mines in coastal waters, harbors, confined straits, choke points and amphibious assault areas where aircraft carriers and expeditionary strike groups must operate. The ALMDS uses pulsed laser light and streak tube receivers housed in an external equipment pod on the MH-60 helicopter. The pod structural housings to be built by CPI Aero are pressurized and thermally conditioned structural assemblies that contain the ALMDS laser and electronics.

EDGEWOOD, N.Y.--(BUSINESS WIRE)--CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE Amex: CVU) announced today that Embraer S.A. (NYSE: ERJ; BM&FBOVESPA: EMBR3), headquartered in São José dos Campos, Brazil, has awarded a long term supply agreement to CPI Aero to manufacture engine inlet assemblies for the Embraer Phenom 300 business jets. CPI Aero estimates that this contract has a potential value in excess of $40 million over the life of the Phenom’s production program. The first assemblies produced by CPI Aero are expected to be delivered in the first quarter of 2013.

Edward J. Fred, President and CEO of CPI Aero stated, “We are extremely excited to begin a relationship with Embraer, one of the world’s premier aircraft manufacturers which provides products for Defense, Commercial and Business aerospace markets. This is our first contract with a non-U.S. based customer and sets yet another milestone on CPI Aero’s path to becoming an aerostructures manufacturer with global reach. We look forward to demonstrating our capabilities on the Phenom program and to earning Embraer’s continued business on this platform and others.”

EDGEWOOD, N.Y.--(BUSINESS WIRE)--CPI Aerostructures, Inc. ("CPI Aero®") (NYSE Amex:CVU) today announced that it has received purchase orders from Spirit AeroSystems, Inc. ("Spirit") for wing leading edge assemblies for the Gulfstream G650 aircraft that extend CPI Aero’s backlog through July 2012. In March 2008, Spirit and CPI Aero entered into a long term agreement to provide Spirit with leading edges for the wing of the Gulfstream G650 business jet. Spirit designs and manufactures the G650 wing for Gulfstream Aerospace Corporation.

Edward J. Fred, CPI Aero's CEO and President, stated, "We are proud of our performance on this program and are excited about these follow on orders. As we continue to demonstrate our assembly capabilities to Spirit, we hope to be considered for additional opportunities for assemblies on this platform."

This award brings the total new year-to-date awards for CPI Aero from all customers to $54.7 million, compared to $9.5 million for the same period of 2010 and $61.7 million for all of 2010.