CPI Aerostructures Inc. (CVU)

[USAMade]

Raytheon Awards $2.3 Million Purchase Order to CPI Aerostructures to Produce Pod Prototypes

CPI Aerostructures, Inc. (“CPI Aero®”) or (the “Company”) (NYSE American: CVU) announced today that Raytheon Company (NYSE: RTN) selected it to produce pod structures. As part of its selection, the Company was awarded firm orders totaling approximately $2.3 million to provide manufacturing engineering services, develop assembly tooling and produce prototypes for delivery in 2020.
“This award leverages our considerable expertise in electronic pod structures, including development work conducted for and as a key supplier to Raytheon since 2016,” stated Douglas J. McCrosson, president and CEO of CPI Aero. “We are extremely excited about the potential of this project and we look forward to working closely with Raytheon to ensure another successful development program.”