CPI Aerostructures Announces Purchase Order from Goodrich for Aerospace Structural Assemblies

CPI Aerostructures, Inc. (NYSE: CVU) today announced that it has received a purchase order from Goodrich Corporation for the supply of aerospace structural assemblies. Work will begin immediately with first delivery scheduled for second quarter of 2013. All deliveries will occur prior to the end of 2013. This is the first contract awarded to CPI Aero by Goodrich. In addition, for the first time, CPI Aero will have design authority for design modifications to the structure it is manufacturing. CPI Aero will utilize GKN Aerospace's Engineering Development Center in Nashville, TN for the design and structural analysis portion of this program. The structural assemblies will be manufactured entirely by CPI Aero within its new, state-of-the-art production facility. Including this new award, total new business from all customers in 2012 is $27.4 million, compared to $22.3 million for the first two months of 2011.