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CPI Aerostructures Receives Additional Purchase Orders to Supply E-2D Advanced Hawkeye Wing ComponentsEDGEWOOD, N.Y., Feb. 20, 2018 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE American:CVU) has received purchase orders from Northrop Grumman Corporation (NYSE:NOC) to supply structural components and kits for the Outer Wing Panel (OWP) on the third and fourth production E-2D Advanced Hawkeye airborne early warning and control (AEW&C) aircraft to be delivered to Japan. The purchase orders will be delivered under a contract announced in January 2016 between Northrop Grumman and CPI Aero valued at $25 million to $30 million. The Pentagon announced on June 1, 2015, that the U.S. Department of State approved a sale of four Northrop Grumman E-2D Advanced Hawkeye aircraft to Japan. The E-2D Advanced Hawkeye is the U.S. Navy’s primary AEW&C aircraft. Douglas McCrosson, President and CEO of CPI Aero, stated, “With these orders, we are now actively working on all four E-2D aircraft that have been approved by the State Department to be sold to Japan, a testament to our excellent program execution on the E-2D platform. We are excited to be part of the team.” About CPI Aero The above statements include forward looking statements that involve risks and uncertainties, which are described from time to time in CPI Aero's SEC reports, including CPI Aero's Form 10-K for the year ended December 31, 2016, and Form 10-Q for the three-month periods ended March 31, 2017, June 30, 2017, and September 30, 2017. CPI Aero® is a registered trademark of CPI Aerostructures, Inc. For more information, visit www.cpiaero.com, and follow us on Twitter @CPIAERO.
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